In the matter of St. John Freight Systems Ltd. Vs. Phoenix ARC Pvt. Ltd. CA (AT) (Insolvency) no. 32-2019

It is informed that the appellant intends to settle the claim with the ‘Financial Creditor’.

This appeal, filed by the Corporate Debtor through its Managing Director & Shareholder, is not maintainable in view of the decision of Hon’ble Supreme Court in “Innoventive Industries Ltd. v. ICICI Bank (2018) 1 SCC 407]” (Para 11). The learned counsel for the Appellant sought for and is allowed to file a petition within one week for substitution of ‘Mr. T. Johnson as appellant and transpose the ‘corporate debtor’ – ‘St. John Freight Systems Limited’ through ‘Interim Resolution Professional’ as 2nd Respondent. It is informed that the appellant intends to settle the claim with the ‘Financial Creditor’.

Mr. Suresh Dobhal, Advocate appears on behalf of the respondent - ‘financial creditor’.

Post the case ‘for orders’ on 23rd January, 2019 along with petition for substitution, if any, filed.

[Justice S.J. Mukhopadhaya]

Chairperson

[ Justice Bansi Lal Bhat ]

Member (Judicial)

LEGAL REFERENCES

Section 2nd

CONCEPTS

Supreme Court AS 1 SCC 407

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In the matter of St. John Freight Systems Ltd. Vs. Phoenix ARC Pvt. Ltd. CA (AT) (Insolvency) no. 32-2019

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This appeal, filed by the Corporate Debtor through its Managing Director &amp; Shareholder, is not maintainable in view of the decision of Hon’ble Supreme Court in “Innoventive Industries Ltd. v. ICICI Bank (2018) 1 SCC 407]” (Para 11). The learned counsel for the Appellant sought for and is allowed to file a petition within one week for substitution of ‘Mr. T. Johnson as
appellant and transpose the ‘corporate debtor’ – ‘St. John Freight Systems
Limited’ through ‘Interim Resolution Professional’ as 2nd Respondent.
It is informed that the appellant intends to settle the claim with the
‘Financial Creditor’. 
Mr. Suresh Dobhal, Advocate appears on behalf of the respondent -
‘financial creditor’. 
Post the case ‘for orders’ on 23rd January, 2019 along with petition for
substitution, if any, filed. 
[Justice S.J. Mukhopadhaya] 
Chairperson 
[ Justice Bansi Lal Bhat ] 
Member (Judicial)

This appeal, filed by the Corporate Debtor through its Managing Director & Shareholder, is not maintainable in view of the decision of Hon’ble Supreme Court in “Innoventive Industries Ltd. v. ICICI Bank (2018) 1 SCC 407]” (Para 11). The learned counsel for the Appellant sought for and is allowed to file a petition within one week for substitution of ‘Mr. T. Johnson as
appellant and transpose the ‘corporate debtor’ – ‘St. John Freight Systems
Limited’ through ‘Interim Resolution Professional’ as 2nd Respondent.
It is informed that the appellant intends to settle the claim with the
‘Financial Creditor’. 
Mr. Suresh Dobhal, Advocate appears on behalf of the respondent -
‘financial creditor’. 
Post the case ‘for orders’ on 23rd January, 2019 along with petition for
substitution, if any, filed. 
[Justice S.J. Mukhopadhaya] 
Chairperson 
[ Justice Bansi Lal Bhat ] 
Member (Judicial)

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In the matter of St. John Freight Systems Ltd. Vs. Phoenix ARC Pvt. Ltd. CA (AT) (Insolvency) no. 32-2019