The National Company Law Tribunal, Mumbai Bench presided over by Justice (Retd.) B.S.V Prakash Kumar has on April 10, 2017 passed a detailed order interpreting certain provisions of Insolvency and Bankruptcy Code, 2016. This order came to be passed in an application filed by DF Deutsche Forfait AG (Operational Creditor) under Section 9 of the Code for initiation of corporate insolvency resolution process against Uttam Galva Steel Ltd. (Corporate Debtor).
Terminology and Procedure under the Code
Discussing the nature of proceedings in applications under Sections 7, 9 and 10 of the Code, NCLT Bench has observed that there is no requirement of pleadings except for information sought in the concerned forms. Further in such applicati…
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