01st April, 2021)
A.I.S. Cheema, J.
Adjudicating Authority dismissed Section 7 IBC application. Hence Appeal
1. This Appeal has been filed ... Section 434
read with Rule 5 legislature did not treat rights of applicants to file application
under Section 7 of IBC as time barred whose
evidence furnished by the financial creditor under sub-section (3) of
Section 7 of the IBC, within 14 days of the date of receipt ... expeditiously deciding a petition under Section 7 or under Section 9 of
the IBC.
60. There can be no doubt that a Corporate Debtor
receipt of the Application under Section 7 . As per
the proviso to Section 7(4) of the IBC, inserted by amendment ... Section 7(7) casts an obligation on
the Adjudicating Authority to communicate an order under
clause (a) of sub-section (5) of Section 7
allotttes initiated insolvency
proceedings against Premia Projects Ltd. under Section 7 of the IBC bearing
CP IB No. 104 of 2018 which was admitted ... allottees
represented by Respondent No. 4 under Section 7 of the IBC requesting to
initiate CIRP of Solitaire Infomedia Pvt. Ltd. also and the said
allotttes initiated insolvency
proceedings against Premia Projects Ltd. under Section 7 of the IBC bearing
CP IB No. 104 of 2018 which was admitted ... allottees
represented by Respondent No. 4 under Section 7 of the IBC requesting to
initiate CIRP of Solitaire Infomedia Pvt. Ltd. also and the said
receipt of the application under Section 7 . As per the
proviso to Section 7(4) of the IBC, inserted by amendment ... Section 7(7) casts an obligation on the
Adjudicating Authority to communicate an order under clause
(a) of sub-section (5) of Section 7
receipt of the application under Section 7 . As per the
proviso to Section 7(4) of the IBC, inserted by amendment ... Section 7(7) casts an obligation on the
Adjudicating Authority to communicate an order under clause
(a) of sub-section (5) of Section 7
receipt of the application under Section 7 . As per the
proviso to Section 7(4) of the IBC, inserted by amendment ... Section 7(7) casts an obligation on the
Adjudicating Authority to communicate an order under clause
(a) of sub-section (5) of Section 7
Section 7 Petition on 11.10.2019 under Section 7 of the IBC. The
acknowledgments by the Respondent on 23.08.2018, 04.09.2018, and
17.09.2018, as recorded ... Section 7 Petition. Thus, the Appellant is indeed a Financial Creditor
within the meaning of Section 5(7) and Section 5(8) of the IBC
receipt of the application under Section 7 . As per the
proviso to Section 7(4) of the IBC, inserted by amendment ... Section 7(7) casts an obligation on the
Adjudicating Authority to communicate an order under clause
(a) of sub-section (5) of Section 7
