Union Ministry of Corporate Affairs Should Be a Party in All IBC Proceedings: NCLT

January 19, 2021by admin0

Maheshwari & Co. Advocates and Legal Consultants with a view to provide an efficacious and speedy conclusion of the insolvency and bankruptcy resolution had introduced its Insolvency and Bankruptcy Department. Our aforesaid insolvency Team is fully and exclusively dedicated with the sole aim of providing such services to our clients with would result into a satisfactory, effective and speedy resolution.

In 2007, the alleged infringer had applied for the domain name of “googlee.in” with .IN Registry which was granted to him and renewed for 4 years in 2008. It was further renewed for 8 years to be available till 2020. The domain name, as is suggestive is confusingly similar to “google.in”. Not only is the domain name similar, but the website is almost identical to Google in terms of font, style, layout, etc. In order to claim its right, Google issued a ‘cease and desist’ notice to the applicant in 2010.

I would like to apprise you that our team at Maheshwari & Co. has represented very important matters and has received number of orders / judgments in favour of our client. I would like to mention that recently one of our team member Ms. Karishma Jaiswal has argued in the matter titled Oriental Bank of Commerce vs. Sikka Papers Limited. In the captioned matter, Maheshwari & Co. through learned Counsel Ms. Karishma Jaiswal stressed upon the applicability of the provision of the Companies Act, 2013 upon the Companies undergoing CIRP. Considering the issued raked up by the Counsel, Hon’ble NCLT bench of President MM Kumar (Judicial) was pleased to pass an order dated 22.11.2019, stating that making MCA a proper party in all proceedings would facilitate production of authentic record and smooth running of corporate insolvency resolution process. The extract of Order is mentioned below herewith:

“In all cases of Insolvency & Bankruptcy Code and Company Petition, the Union of India, Ministry of Corporate Affairs through the Secretary be impleaded as a party respondent so that authentic record is made available by the officers of the Ministry of Corporate Affairs for proper appreciation of the matters.”

Further directing that the direction has to be followed at all the Benches of the Tribunal:

“This shall be applicable throughout the country to all the benches of the National Company Law Tribunal. The Registrar shall send a copy of this order to all NCLT benches so that respective Deputy Registrar may ensure that proper parties are impleaded.”

Karishma Jaiswal

Senior Associate

Maheshwari & Co.

karishma@phalgutirth.co.in

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Phalgu Tirth

Falakivan, one of the seven forests of Kurukshetra, is the person of great virtue. Presently, this Falakivan is decorated and famous as Phalgu Tirtha.
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