JUDGMENT :

SUDHANSU JYOTI MUKHOPADHAYA, J.

Amar Remedies Limited (Company) filed Form-6 for initiation of ‘Corporate Insolvency Resolution Process’ against it. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench treated the Form-6 as an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the ‘I&B Code’) showing Amar Remedies Limited as ‘Corporate Applicant’ and admitted the application vide order dated 16th June, 2017.

2. Pursuant to the ‘Corporate Insolvency Resolution Process’, ‘Interim Resolution Professional’ collated the claims; constituted the ‘Committee of Creditors’; prepared the ‘Information Memorandum’; called for ‘Resolution Plan’ with the approval of the ‘Committee of Creditors’ and ‘Resolution Plans’ were placed before the ‘Committee of Creditors’. The ‘Resolution Plan’ submitted by one of the ‘Resolution Applicant’ was approved by the ‘Committee of Creditors’ in its 7th meeting with voting share of 83.02%. The ‘Resolution Professional’ filed Miscellaneous Application No.524 of 2018 before the Adjudicating Authority for approval of the ‘Resolution Plan’ under Section 31 of the I&B Code.

3. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench heard the parties and noticed the submissions made on behalf of the IDBI Bank Limited that Hon’ble High Court of Bombay has already passed order of ‘Liquidation’ of the Company. The Counsel for the IDBI Bank also brought to the notice of the Adjudicating Authority the order of the Hon’ble Bombay High Court dated 25th January, 2017 passed in Company Petition No.7/2015, wherein the Hon’ble Bombay High Court observed and passed the following order: -

“2. Ld. Counsel for the respondent states that the proceedings before AFFIR stand abated. The Respondent Company is already wound up.

3. Given these admitted facts, the Official Liquidator is directed to proceed with the procedure of winding up of the respondent company expeditiously. The Petitioner is at liberty to file affidavit of claim before the Official Liquidator. Official Liquidator’s Report is disposed of in the terms above. The company’s above petition is also disposed of in the aforesaid terms.”

4. The Adjudicating Authority on hearing the parties took exception of filing application under Section 10 and in the impugned order dated 29th January, 2019 observed as follows: -

“33. In this case, as stated earlier we are not examining the right of the corporate applicant for filing petition U/S 10 of the I & B Code. We are only examining whether the petitioner, i.e. corporate applicant has filed the petition suppressing the material facts, which were known to it as material.

34. The Hon’ble Supreme Court in Civil Appeal No. 818/2018 in case of FORECH India Ltd vs Edelweiss Assets Reconstruction Company dated 22nd January 2019 has held that

“section 11 of the code specifies which persons are not eligible to initiate proceedings under it. In particular, section 11 (d) reads as follows:

11. Persons not entitled to make application.—The following persons shall not be entitled to make an application to initiate corporate insolvency resolution process under this Chapter, namely—

…

(d) a corporate debtor in respect of whom a liquidation order has been made.

This section is of limited application and only bars a corporate debtor from initiating a petition under section 10 of the Code in respect of whom a liquidation order has been made. From a reading of this section, it does not follow that until a liquidation order has been made against the corporate debtor, an insolvency petition may be filed under section 7 or Section 9 as the case may be, as has been held by the Appellant Tribunal. Hence, any reference to section 11 in the context of the problem in view of the law laid down by them was in the above mentioned case before us is wholly irrelevant.”

35. Given the law laid down by Hon’ble Supreme Court in the above mentioned case, it is clear that after liqui