Whether an Intervention Application can be maintained during the pendency of a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 at pre-admission stage – Vijayalaxmi Developers and Anr. – NCLT Mumbai Bench

Hon’ble NCLT Mumbai Bench referring judgments in Deb Kumar Mujumdar Vs. State Bank of India [2019] ibclaw.in 31 NCLAT, L&T Infrastructure Finance Company Ltd. Vs. Gwalior Bypass Project Ltd. (2019) ibclaw.in 394 NCLAT and Vekas Kumar Garg Vs DMI Finance Pvt. Ltd. & Anr. (2021) ibclaw.in 78 NCLAT held that the Intervention Application is pre-mature and cannot be entertained at the stage and the appropriate remedy available with the Petitioners/Applicants would lie only if at all, only after the Corporate Debtor is admitted into Insolvency and at that stage, the Petitioners/Applicants can approach NCLT in case any of their rights are infringed in respect of any property owned by them.

Whether an Intervention Application can be maintained during the pendency of a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 at pre-admission stage – Vijayalaxmi Developers and Anr. – NCLT Mumbai Bench Read Post »