Andhra Bank Vs. Sterling Biotech Ltd. [Company Appeal (AT) (Insolvency) No. 612 of 2019]

In this case, Andhra Bank Vs. Sterling Biotech Ltd. [Company Appeal (AT) (Insolvency) No. 612 of 2019], the Adjudicating Authority had dismissed an application under Section 12A of Insolvency and Bankruptcy Code, 2016, which was submitted at the Promoter's instance and accepted with more than 90% of the CoC's share of the vote, on the basis that the Promoter was not entitled to file a resolution proposal under Section29A of Insolvency and Bankruptcy Code, 2016. 

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