Tribunals and CommissionsDivision Bench(2020) 02 NCLT CK 0729

Pharmachem Enterprise vs Anjali Nirav Choksi IRP For KNM Pharma & Anr

National Company Law Tribunal · Decided on 19 February 2020

HON’BLE JUDGES
Manorama Kumari, Member Judicial · Chockalingam Thirunavukkarasu, Member Technical
CASE NUMBER
IA 136 of 2020 in C.P.(I.B) No. 506/NCLT/AHM/2019

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Judgment

6 paragraphs · 117 words

ORDER

The parties are represented through learned counsel and PCA.

The instant application is filed under Section 12A of the IB Code by the Operational Creditor.

IRP in person is present. Corporate Debtor is also present. The IRP submitted that that COC has not yet constituted. Seen the records, on 28.01.2020, the matter is admitted.

The prayer so made by the Operational Creditor is allowed. Accordingly, moratorium so granted under Section 14 of the IB Code ceased to have effect and IRP is discharged from the duties.

The IRP Anjali Chokshi fairly submitted that she has received her dues and expenses from the Operational Creditor. Accordingly, the instant application is allowed and disposed-off with the above observation.