Where the ‘Provisional Liquidator’ has been appointed, the question of initiation of ‘CIRP’ u/s 9, against the same ‘Corporate Debtor’ does not arise-NCLAT in case of Arise India Ltd. Vs TCI Freight

NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 153 of 2018
IN THE MATTER OF:
Arise India Limited …Appellant
Vs.
TCI Freight
(A division of Transport Corporation of India Ltd.) …Respondent
Present: For Appellant: – Ms. Gurkamal Hora Arora and Mr.
Gurcharan Singh, Advocates.
For Respondent:- None.
O R D E R

03.05.2018- Where the ‘Provisional Liquidator’ has been appointed, the question of initiation of ‘Corporate Insolvency Resolution Process’ under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the same ‘Corporate Debtor’ does not arise. For the said reason, we are not inclined to interfere with the impugned order and dismiss the appeal. No cost.

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