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Insolvency plea dismissed

By The Assam Tribune
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GUWAHATI, March 23 - The Guwahati Bench of the National Company Law Tribunal (NCLT) led by Justice PK Saikia has dismissed an application seeking initiation of Corporate Insolvency Resolution Process against M/s Himatsingka Resorts Private Limited.

The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Neha Himatsingka and Kanishka Himatsingka, jointly in the capacity as financial creditors, a press release said here today.

Advocates AK Rai and Khushboo Aggarwal appeared on behalf of the financial creditors, while Kaushik Goswami, Rakesh Sarmah and Arinjoy Sandilya appeared on behalf of the Corporate Debtor, M/s Himatsingka Resorts Private Limited.

The NCLT Bench invoked its inherent powers to bring on record a few documents filed by the Corporate Debtor, holding that all courts and tribunals have the power to address some extraordinary situations regardless of whether procedural law conferred such power on the court or Tribunal or not.

The Tribunal dismissed the application, saying that on the date of presentation of the present proceedings, the debts due to the financial creditors had not fallen due for payment.

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Insolvency plea dismissed

GUWAHATI, March 23 - The Guwahati Bench of the National Company Law Tribunal (NCLT) led by Justice PK Saikia has dismissed an application seeking initiation of Corporate Insolvency Resolution Process against M/s Himatsingka Resorts Private Limited.

The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Neha Himatsingka and Kanishka Himatsingka, jointly in the capacity as financial creditors, a press release said here today.

Advocates AK Rai and Khushboo Aggarwal appeared on behalf of the financial creditors, while Kaushik Goswami, Rakesh Sarmah and Arinjoy Sandilya appeared on behalf of the Corporate Debtor, M/s Himatsingka Resorts Private Limited.

The NCLT Bench invoked its inherent powers to bring on record a few documents filed by the Corporate Debtor, holding that all courts and tribunals have the power to address some extraordinary situations regardless of whether procedural law conferred such power on the court or Tribunal or not.

The Tribunal dismissed the application, saying that on the date of presentation of the present proceedings, the debts due to the financial creditors had not fallen due for payment.

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