P.V. Nidhish vs Dr. N.P. Kamalesh & Anr
- CitationCompany Appeal (AT) (Insolvency) No. 1130 of 2019
Ratio decidendi
The rule this decision rests on
The order does not decide any legal principle of its own. It disposes of the appeals by directing the Adjudicating Authority to pass an appropriate order on the parties' settlement and withdrawal application, in terms of the Supreme Court's decision in Swiss Ribbons Pvt. Ltd. v. Union of India, taking into account other factors including any claims of other parties. The reasoning rests on that direction, which applies a Supreme Court decision without restating or elaborating what it holds. NO_RATIO: the order disposes of the appeals by a bare direction to apply Swiss Ribbons, without setting out any reasoning of its own or stating what that decision held.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
P. V. Nidhish ...Appellant Versus OCS Group India Pvt. Ltd. & Anr. ...Respondents Present: For Appellant : Ms. Liz Mathew and Ms. Sonali Jain, Advocates
For Respondents : Mr. Ahsan Ahmad and Mr. Shailendra Pandey, Advocates for 1st Respondent Mr. Bijoy P. Pulipra, IRP Mr. Sumant Nayak, Ms. Isha J. Kumar and Ms. Shraddha Chaudhry, Advocates for Financial Creditors and LIC
WITH
Company Appeal (AT) (Insolvency) No. 1131 of 2019
IN THE MATTER OF:
P. V. Nidhish ...Appellant Versus Dr. N.P. Kamlesh & Anr. ...Respondents Present: For Appellant : Ms. Liz Mathew and Ms. Sonali Jain, Advocates For Respondents : Mr. Ahsan Ahmad and Mr. Shailendra Pandey, Advocates for 1st Respondent Mr. Bijoy P. Pulipra, IRP Mr. Sumant Nayak, Ms. Isha J. Kumar and Ms. Shraddha Chaudhry, Advocates for Financial Creditors and LIC Mr. Anurag Bhat and Lokesh Patnaik, Advocates for Intervenor
ORDER
03.12.2019 One Dr. N.P. Kamlesh and M/s. OCS Group (India) Pvt. Ltd.
(Operational Creditors) filed application(s) under Section 9 of the 'Insolvency and
Bankruptcy Code, 2016 (for short, 'the I&B Code') for initiation of the 'Corporate -2-
Insolvency Resolution Process' against 'PVS Memorial Hospital Pvt. Ltd.' The
Adjudicating Authority (National Company Law Tribunal), Kochi Bench, Kochi
by impugned order dated 16th October, 2019 having admitted the application,
the present appeal has been preferred by one of the Directors.
Earlier when the matter was taken up, learned counsel for the Appellant
submitted that the Appellant intends to settle the matter with the 'Operational
Creditors' and the 'Committee of Creditors' have not been constituted.
Accordingly, they were allowed time to settle the matter.
Today, it is informed that the parties have settled the matter and the
application for withdrawal has been filed before the 'Interim Resolution
Professional', who asked some clarification from the Adjudicating Authority
(National Company Law Tribunal), Kochi Bench, Kochi and the Adjudicating
Authority by an order dated 2nd December, 2019 clarified the same.
In the circumstance, we direct the Tribunal to pass appropriate order in
terms of the decision of the Hon'ble Supreme Court in ''Swiss Ribbons Pvt. Ltd.
& Anr. vs. Union of India & Ors.- '2019 SCC Online SC 73' taking into
consideration the other factors including the claim, if any, made by other parties.
The appeal is disposed of with aforesaid direction. No costs.
[Justice S.J. Mukhopadhaya] Chairperson
[Justice Bansi Lal Bhat] Member (Judicial)
[Justice Venugopal M.] Member (Judicial)
/ns/sk
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