P.K. Saikia, Member - (1.) This Proceeding has been necessitated in view of two divergent orders, passed by the learned Members of NCLT, Kolkata Bench in C.P. No. 37/2017. While Mr. V.P. Singh, learned Member (J) directed that application be returned to the applicant for rectifying the defects notified in the order, Mr. S. Vijaraghavan, learned Member (Technical) was of the opinion that the application was duly filed and, as such, same is required to be admitted.
(2.) Facts leading to filing of C.P. No. 37/2017 may be narrated in a narrow campus as follows:
(3.) Icici Bank, a bank incorporated under the laws of India with its registered office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390 007, Gujarat, India and a Regional Office at ICICI Bank House, 3A Gurusaday Road, Kolkata, had filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short, Code of 2016) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016 (in short, Rules of 2016) against Palogix Infrastructure Private Ltd., a company incorporated under the laws of India with its registered office at 86 B/2, Topsia Road, Gajraj Chambers, Kolkata.;