NCLAT : In Ameya Laboratories Ltd. vs. Kotak Mahindra Bank & Ors.

Mere pendency of a petition for winding up with Court or Tribunal, where no order of winding up or order of liquidation has been passed, cannot be ground to reject the application under Section 10.

The Appellate Tribunal is of the view that if any winding up proceeding has been initiated against the Corporate Debtor by the Hon’ble High Court or Tribunal or liquidation order has been passed, in such case the application under Section 10 is not maintainable. However, mere pendency of a petition for winding up, where no order of winding up or order of liquidation has been passed, cannot be ground to reject the application under Section 10.

In the present case, the winding up proceeding has been passed and is pending against the appellant, so the application under section 10 of I&B Code at the instance of the Corporate Applicant is not maintainable in view of the bar imposed under Section 11(d) of I&B Code and thus the appeal dismissed accordingly.

Link : https://www.casemine.com/judgement/in/5a6722304a93260a6b357443