JAYCON INFRASTRUCTURE LIMITED Vs. GAYATRI PROJECTS LTD

JUDGEMENT

(1.) The Company Petition bearing C.P. (IB) No.45/09/HDB/2017 is filed by Jaycon Infrastructure Limited (Operational Creditor) under Section 9, R/w 13, 14 & 33 and other applicable provisions of the Insolvency and Bankruptcy Code, 2016 by seeking to initiate CIRP against Gayatri Projects Ltd.

(2.) The Tribunal admitted the C.P. vide Order dated 10.10.2017 and also appointed IRP. Aggrieved by this Order of the Tribunal, the Respondent (Corporate Debtor) has filed Company Appeal (AT) (Insolvency) No.228 of 2017 before the Hon'ble NCLAT. The Hon'ble NCLAT disposed of the appeal by setting aside the order of the Tribunal dated 10.10.2017 and dismissed the C.P. with a direction to the Tribunal to close the Proceedings vide Order dated 26.10.2017.

(3.) In the light of the Orders of the Hon'ble NCLAT,the Company Petition bearing No.CP(IB)/45/09/HDB/2017 is closed without any further action.