Termination of Insolvency Process by NCLT – Landmark Judgement

Page ContentsOm Logistics Limited & Anr. Vs M/s Ryder India Pvt. Ltd. (National Company Law Tribunal) Om Logistics Limited & Anr. Vs M/s Ryder India Pvt. Ltd. (National Company Law Tribunal) In case the Sole Member/ Operational Creditor of the CoC was not interested in pursuing the CIR Process, the appropriate course could have been to file a withdrawal application under Section 12A of IBC, 2016. In the case Operational Creditor i.e., at whose instance the CIR Process was initiated, was not for the resolution of Insolvency. Instead, the Operational Creditor has used this forum for reco...