ELECTROSTEEL STEEL LTD Vs. IMPERIA STRUCTURES LTD

JUDGEMENT

(1.) Application on behalf of the management is incompetent, as the management is now in the hands of Insolvency Resolution Professional. Any application has to be filed by the IRP alone as che erstwhile management has no locus standi. This aspect has also been clarified by Hon'ble the Supreme Court in the case of Innoventive Industries Ltd. v. ICICI Bank & Anr. (Civil Appeal JVbs. 8337-8388/2017, decided on 31st August, 2017. Therefore, the application is dismissed.