Amogh Industrial Products Vs Mirchi Developers Private Limited (NCLT Hyderabad)
NCLT Hyderabad dismissed the application filed under section 9 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP due to non-compliance of section 69(2) of the Indian Partnership Act, 1932
Facts- This is a Petition filed by ‘M/s. Amogh Industrial Products’, a Partnership Firm (represented by its Partner Mr. Amar Das) u/s. 9 of ‘The Insolvency and Bankruptcy Code, 2016 against ‘M/s. Mirchi Developers Private Limited’, a company incorporated under The Companies Act, 2013. It was alleged that the Respondent defaulted in paying an operational debt exceeding one crore rupees to the Petitioner and sought for initiation of ‘Corporate Insolvency Resolution Process’ of the Respondent.
Conclusion- In lieu of Section 69(2) of The Indian Partnership Act, 1932, it is imperative on the Petitioner to show that the Petitioner is a registered firm and that the Authorised Signatory is shown as partner in the Register of Firms. In the absence of the compliance of Section 69(2) of The Indian Partnership Act, 1932, the Petition filed is not maintainable and is liable to be rejected.
Held that petitioner is not authorized to file this present petition because of non- compliance of Section 69(2) of The Indian Partnership Act, 1932.
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