Company Appeal (AT) (Insolvency) No. 369 of 2019
IN THE MATTER OF:
M/s. Shrishti Electromech Pvt. Ltd. …Appellant
M/s. Vijay Home Appliances Ltd. …Respondent
Initiation of ‘Corporate Insolvency Resolution Process’ against M/s. Vijay Home Appliances Ltd’ (Corporate Debtor) was rejected by the impugned order dated 21st January, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Hyderabad on the ground of ‘existence of dispute’.
The appeals stands disposed of for following observations;
Appellant submitted that pursuant to another application filed under Section 9 of the’I&B Code’ by another person ‘Corporate Insolvency Resolution Process’ was also initiated against M/s. Vijay Home Appliances Ltd. (Corporate Debtor). In view of such development, the Appellant were allowed to raise the claim before the – 2 – ‘Resolution Professional’ who will consider the claim uninfluenced by the impugned order dated 21st January, 2019.
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