H. P. Chaturvedi, Member - (1.) The Present Case is fixed for order on jurisdiction of this Tribunal and on maintainability of the present Application.
(2.) The Legal issue involved in the instant Petition is that whether the 'Corporate Person' would include situs of 'Corporate Debtor' or does it include situs of 'Corporate Creditor' under Section 60 of Insolvency and Bankruptcy Code, 2016. Whether a Petition can be filed under Section 9 read with Section 60 of the Insolvency and Bankruptcy Code, 2016 before this bench against a Corporate Debtor Company (M/S H.L Tech Fabrics Limited) which is having its registered office (in C- 116, Farmers Aptts , Plot No. -8 , Sector -13 , Rohini) at New Delhi .falling outside of its territorial jurisdiction is maintainable before this Bench.
(3.) When the attention of the Counsel for Operational Creditor was invited to the relevant provision of the Insolvency & Bankruptcy Code, 2016 , specifically to the Section 60 (1) , the learned Counsel for Applicant Contends that present Petition can be filed and is well maintainable before the Allahabad Bench of NCLT. As per the Section 60(1) of Insolvency & Bankruptcy Code, the Adjudicating Authority in relation to Insolvency for Corporate Person including Corporate Debtor and Personal Guarantor shall be NCLT having Territorial Jurisdiction over the place where the registered office of corporate person is located. The Petitioner counsel however made effort to impress us by making interpretation of Section 60 contended such the Operational Creditor comes within the definition of a Corporate Person. Since the Registered Office of the Operational Creditor / Applicant is situated in the Kanpur which falls within territorial Jurisdiction of this tribunal. Hence the Insolvency Resolution Process can be initiated against the Corporate Debtor by this Bench irrespective of the fact its office is situated (in Delhi) outside the Territorial Jurisdiction of this Bench's territorial jurisdiction.;