ABHISHEK SINGH Vs. HUHTAMAKI PPL LIMITED

JUDGEMENT

(1.) Leave granted.

(2.) The appellant, a suspended Director of the Corporate Debtor[1]: Manpasand Beverages Ltd. (respondent 2), has filed this appeal assailing the correctness of the order dtd. 13/4/2021 passed by the National Company Law Tribunal[2], Ahmedabad Bench at Ahmedabad in I.A. No.196 of 2021 arising out of C.P.(I.B.) No.503 of 2019 rejecting the application of the appellant under sec. 12A of Insolvency and Bankruptcy Code, 2016[3] for withdrawal of the Corporate Insolvency Resolution Process[4].

(3.) CD is in the business of manufacturing and distribution of fruit beverages. It has approximately 700 employees and a turnover of Rs.984.96 Crores in the Financial Year 2018-2019. The Operational Creditor[5] Huhtamaki PPL Ltd. (respondent No.1) used to supply packaging material to the CD.