Ld’ Adjudicating Authority Dismisses The Application Under Section 7 By ICICI Bank Against Era Infrastructure (India) Limited, A Wholly Owned Subsidiary Of Era Infra Engineering Limited
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The Ld’ Adjudicating Authority (NCLT, Principal Bench, New Delhi) on 07.05.2019 dismissed the application filed under Section 7 of Insolvency and Bankruptcy Code, 2016 against Era Infrastructure (India) Limited, which is a subsidiary of Era Infra Engineer
India
The Ld' Adjudicating Authority (NCLT, Principal Bench, New
Delhi) on 07.05.2019 dismissed the application filed under Section
7 of Insolvency and Bankruptcy Code, 2016 against Era
Infrastructure (India) Limited, which is a subsidiary of Era Infra
Engineering Limited (one of the first 12 Companies, shortlisted by
RBI to be proceeded under I&B Code 2016).
M/s Era Infrastructure (India) Limited was represented by Mr.
Vijay Kr Singh, Sr. Partner S&A before the NCLT.
The Principal Bench had rejected the Application filed by ICICI
Bank on the ground of duplicity of the claims since ICICI Bank have
also filed its claim as Financial Creditor before the Resolution
Professional appointed in the case of Era Infra Engineering
Limited, which though initially when filed by ICICI Bank with
Resolution Professional was rejected by the Resolution Professional
however after the directions of Principal Bench in the Interim
Application filed by ICICI Bank in the matter of Era Infra
Engineering Limited have accepted the same.
While rejecting the application the Principal Bench held that on
account of duplicity of the claims the petition cannot be
entertained.
Contributor
S&A Law Offices is a full-service law firm comprising experienced, well-recognized and accomplished professionals. S&A Law Offices aims to provide its clients (both domestic and international) with top-quality counsel and legal insights, which combines the Firm's innovative approach with comprehensive expertise across industries and a broad spectrum of modalities. Being a full-service law firm, we take pride in having the capability of providing impeccable legal solutions across various practice areas and industries and makes an endeavor to provide a 360 degree legal solution.
With registered office at Gurugram and other strategically located offices in New Delhi, Mumbai, and Bengaluru, along with associate offices across India, S&A is fully equipped to provide legal services on a pan-India basis.
