LEVCON VALVES PVT LTD Vs. ENERGO ENGINEERING PROJECTS LTD
LAWS(NCLT)-2017-6-149
NATIONAL COMPANY LAW TRIBUNAL
Decided on June 29,2017

Levcon Valves Pvt Ltd Appellant
VERSUS
Energo Engineering Projects Ltd Respondents

JUDGEMENT

R Varadharajan, Member - (1.) Learned Counsel for the petitioner is present and represents that notice to the Respondent has already been served. The Respondent company requests time to file reply as well as to raise preliminary objections regarding maintability. The Respondent company is also directed to file their latest financial statement in order to prove otherwise its solvency. The petitioner is given an opportunity for filing the rejoinder within a week thereafter. At this point, in relation to the respondent company, the Counsel for the respondent company brings to notice of this Tribunal that the company has filed a petition before the Principal Bench, NCLT, New Delhi under Section 10 of IBC, to put in motion insolvency Resolution Process and the same has been numbered and listed on 11.7.2017. In the above circumstances, it will be appropriate that this Petition is also posted before the Hon'ble Principal Bench for consideration as it involves the same Company and also in order to avoid any dichotomy, as Insolvency Resolution Professional, if decided to be appointed by either of the Tribunal can be only one and not multiple.
(2.) Hence, the matter be placed for hearing before the Hon'ble Principal Bench on 11.7.2017 for consideration.;


Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.