Case Note & Summary
The appeal was filed by Kunnel Engineers & Contractors Pvt. Ltd., an operational creditor, challenging the dismissal of their petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor, Ozone Projects Pvt. Ltd., had been admitted to the Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT) in a prior order dated 16.07.2026. During the proceedings, the appellant's counsel indicated that they were not pressing the appeal at that moment but requested the tribunal to allow the possibility of reviving the appeal if any subsequent appeal against the NCLT's order was permitted. The tribunal granted this request and closed the appeal, allowing for the potential revival under specified conditions. The decision reflects the tribunal's approach to operational creditors' rights in insolvency proceedings and the procedural flexibility afforded to them.
Headnote
A) Insolvency Law - Operational Creditor's Appeal - Dismissal of Petition - Insolvency and Bankruptcy Code, 2016, Section 9 - The operational creditor challenged the dismissal of his petition under Section 9, but subsequently sought to close the appeal with liberty to revive it if necessary. The tribunal granted leave for the appeal to be closed, subject to the condition that it may be revived if the order in the corporate insolvency resolution process is appealed against (Paras 1-3).
Issue of Consideration
Whether the operational creditor's appeal against the dismissal of the petition under Section 9 should be allowed or closed.
Final Decision
The tribunal granted leave for the appeal to be closed, allowing the operational creditor the liberty to revive the appeal if necessary in the future.
Law Points
- Operational Creditor
- Corporate Insolvency Resolution Process
- Appeal Dismissal
- Section 9
- Liberty to Revive Appeal
