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Tribunals and CommissionsDivision Bench(2024) 05 NCLT CK 0025

Korea Trade Insurance Corporation (Ksure) vs Indo Alusys Industries Limited

National Company Law Appellate Tribunal, Pricipal Bench, New Delhi · Decided on 31 May 2024

HON’BLE JUDGES
Mahendra Khandelwal, Member (J) · Dr. Sanjeev Ranjan, Member (T)
RESULT
Dismissed
CASE NUMBER
CP IB NO. 95/PB/2022
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Judgment

3 paragraphs · 156 words

Mahendra Khandelwal, Member (Judicial)

This is a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by Mr. Abhishek Aggarwal, Authorized Signatory of Korea Trade Insurance Corporation (‘Operational Creditor’) duly authorized for initiation of Corporate Insolvency Resolution Process (‘CIRP’) against Indo Alusys Industries Limited (‘Corporate Debtor’).

The Petitioner herein, seeks to initiate Corporate Insolvency Resolution Process against the Corporate Debtor. However, vide order dated 17.05.2024 passed by this Adjudicating Authority, Corporate Insolvency Resolution Process has already been initiated against the Corporate Debtor i.e., Indo Alusys Industries Limited vide admission of CP IB No. 519/PB/2022. Therefore, in view of the order dated 17.05.2024 in CP IB No. 519/PB/2022, the present Company Petition bearing CP IB No. 95/PB/2022 stands dismissed as infructuous. The Petitioner may file their claim before the Resolution Professional appointed vide order dated 17.05.2024.