Appeal u/s 7 of IBC becomes infructuous as recommendation to liquidate company is already pending

Rakshit Dhirajlal Doshi Vs IDBI Bank Limited (NCLAT Delhi)

NCLAT Delhi held that appeal filed under section 7 of IBC becomes infructuous as recommendation of CoC to liquidate the company is pending for consideration before the Adjudicating Authority.

Facts-

The present Appeal has been filed by the Appellant u/s. 61 of the Insolvency and Bankruptcy Code, 2016 being aggrieved and dissatisfied by the order dated 31.08.2021 passed by the Adjudicating Authority, whereby and where under the Respondent herein filed Application under Section 7 of the IBC for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor / Appellant – M/s Doshion Private Limited was allowed and appointed Mr. Ramchandra Dallaram Choudhary as IRP.

Conclusion-

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