Case Law Details
ATE Projects Pvt. Ltd. Vs Rajasthan Drugs and Pharmaceuticals Ltd. (NCLT Jaipur)
A ‘Government Company’ as defined under Section 2(45) of the Companies Act, 2013 is covered under the definition of a ‘Company’ as defined under Section 2(20) of Companies Act 2013.
Since the Corporate Debtor, has not been performing any Governmental Functions or the Functions of State, the Corporate Debtor cannot be immune from the IBC proceedings merely on the basis of being a Government Company. Therefore, we find that the present Application is maintainable and worth considering on merits.
FULL TEXT OF THE NCLT JAIPUR ORDER
M/s. ATE Projects Pvt. Ltd. (for brevity ‘Applicant/ Operational Creditor’) has filed the present Petition through its Authorized Representative Mr. Yogesh Sharma under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity ‘IBC, 2016’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 with a prayer to initiate the Corporate Insolvency Resolution Process against M/s. Rajasthan Drugs and Pharmaceuticals Ltd. (for brevity ‘Respondent/ Corporate Debtor’).
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