NCLAT overrules its judgments in Hemang Phophalia and Elektrans Shipping Pte. Ltd. | Restoration of name of Corporate Debtor under Section 248(5) of Companies Act, 2013 cannot be restored automatic as soon as an application is filed under Section 7 or 9 of IBC by a creditor – Fedex Express Transportation and Supply Chain Services (India) Pvt. Ltd. Vs. Zipker Online Services Pvt. Ltd. – NCLAT New Delhi
This important judgment covers: A. Scheme of Removal of Name by RoC under the Companies Act, 2013. B. Is Restoration of name of Corporate Debtor under Section 248(5) of the Companies Act, 2013 restored automatic as soon as an application is filed under Section 7 or 9 of IBC by a creditor? C. Overrules Hemang Phophalia and Elektrans Shipping Pte. Ltd. judgments. D. Winding up under Companies Act, 2013 vs. Insolvency Resolution under IBC, 2016. E. Disposed of.