The National Company Law Appellate Tribunal (NCLAT), Chennai bench of Justice Sharad Kumar Sharma (Judicial Member) and Mr Jatindranath Swain (Technical Member) allowed the impleadment application filed by an Operational Creditor, on the ground that its application to initiate CIRP proceedings against the Corporate Debtor were closed due to initiation of CIRP by another creditor. The NCLAT exercised its discretionary power under Order 1 Rule 10 (2) of the CPC to allow the application.
Brief Facts:
M/s RDC Concrete India Pvt. Ltd. (“RDC”) filed an interlocutory application before the National Company Law Appellate Tribunal (“NCLAT”) for its impleadment as a party in the matter of M/s Ozone Projects Pvt. Ltd….
