Dismissal of Section 65 Application Filed Before sec 7 IBC Application Admission Unjustified

Devashree Developers Pvt. Ltd. & Ors Vs Aravali Cylinders Pvt Ltd (NCLAT Delhi) NCLAT Delhi held that dismissal of application u/s. 65 of the Code on the ground that application has been filed before the admission of the application under Section 7 of the Code is not sustainable. Facts- This appeal is directed against the order dated 29.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi) by which an application jointly filed by Leelawati Mahipal and Sanjay Mahipal, shareholder of Aravali Cylinders Pvt. Ltd. (Corporate Debtor) under Section 60(5), 65 and ...