Intervention petition u/s. 65 of IBC revived as application not filed to derail CIRP

Anil Singh Vs SREI Equipment Finance Ltd. & Anr. (NCLAT Delhi) NCLAT Delhi held that order rejecting application for intervention under section 65 of the Insolvency and Bankruptcy Code is set aside and intervention petition is revived since application is not filed to derail CIRP. Accordingly, appeal disposed of. Facts- A Section 7 application has been filed by SREI Equipment Finance Ltd. against the Corporate Debtor (“CD”) – Kitply Industries Ltd. The CD – Kitply Industries Ltd. was admitted to Corporate Insolvency Resolution Process (“CIRP”) by an order dated 01.05.2018 passe...