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Sadashivam Balaji vs Cura Healthcare Pvt. Ltd

National Company Law Appellate Tribunal16 December 2019

Ratio decidendi

The rule this decision rests on

The Tribunal's dismissal of the appeal rests on a single proposition: once an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a corporate debtor has been admitted by the Adjudicating Authority, no further application under Section 9 by another operational creditor against the same corporate debtor is to be entertained, and any other operational creditor's remedy lies in filing its claim before the Interim Resolution Professional.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHICompany Appeal (AT) (Insolvency) No. 1452 of 2019IN THE MATTER OF:

Sadashivam Balaji ...Appellant

Vs

Cura Healthcare Pvt. Ltd. ...Respondent

Present:

For Appellant: Mr. Anandh K. and Mr. Raunak Verma, Advocates.

For Respondent:

ORDER

16.12.2019: This appeal has been preferred by the Appellant against the

order dated 24th October, 2019 passed by the Adjudicating Authority (National

Company Law Tribunal), Division Bench, Chennai whereby application under

Section 9 preferred by Appellant for initiation of Corporate Insolvency Resolution

Process against M/s Cura Healthcare Pvt. Ltd. was dismissed.

2. Mr. K. Anandh, Learned counsel appearing on behalf of the Appellant

submits that subsequently another application under Section 9 against the same

Corporate Debtor has been admitted by the Adjudicating Authority, Division

Bench Chennai on 9th December, 2019 in 'R. Gomathi' Vs. 'Cura Healthcare

Private Limited'.

Company Appeal (AT) (Insolvency) No. 1452 of 2019 -2-

3. In the circumstances, there is no question of entertaining application

under Section 9 by any other Operational Creditor including the Appellant. The

Appellant may file its claim before the Interim Resolution Professional.

4. The appeal stands disposed of with aforesaid observation. No costs.

[Justice S. J. Mukhopadhaya] Chairperson

[Justice Bansi Lal Bhat] Member (Judicial)

[Justice Venugopal M.] Member (Judicial) am/gc

Company Appeal (AT) (Insolvency) No. 1452 of 2019

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