ACE BUILD PVT LTD Vs. A2Z POWERCOM LIMITED

JUDGEMENT

(1.) The petition dated 09.09.2016 was filed in the Hon'ble Punjab and Haryana High Court in terms of Section 433(e) of the Companies Act, 1956 with a prayer for winding up of the respondent-company for its inability to pay the debt due to the petitioner. Since the respondent was not served while the matter was pending in the Hon'ble High Court, the petition has been transferred to the Tribunal in terms of Section 5 of the Companies (Transfer of Pending Proceedings) Rules, 2016. The said Rule 5 as amended vide Notification dated 29.06.2017 reads as under:-

(2.) The instant petition has been treated as a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for short, hereinafter to be referred as the 'Code') the petitioner being an Operational Creditor. The application has been filed in Form 5 as prescribed under Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity, the 'Rules'), The Respondent-Corporate Debtor was incorporated on 28.04.2008 and its registered office is at Gurgaon, now Gurugram in the State of Haryana. The matter, therefore, falls within the territorial jurisdiction of this Tribunal. The petitioner has furnished both the addresses of registered office as well as corporate office of the respondent and both are situated at Gurgaon (now Gurugram).

(3.) The Petitioner-Operational Creditor is also a company incorporated under the Companies Act, 1956 with its registered office at Chandigarh The instant petition has been filed through Mr. Hans Raj Chaudhary, Director of the company as per the Board of Directors resolution dated 06.09.2016 (Annexure A-2). This resolution also formed part of the petition filed before the Hon'ble High Court.