Application Intentionally Withdrawn By Applicant And Subsequently Filed On The Same Transaction Will Be Barred By Res Judicata. NCLT Kochi

The Kochi Bench of NCLT in a Bench comprising of Justice Ashok Kumar Borah and Mr. Shyam Baby Gautam in Jose Samuel v. M/s Royal International Trade and Allied Products Pvt. Ltd. has dismissed the application seeking initiation of Corporate Insolvency Resolution Process against the Respondent/ Corporate Debtor, i.e. Facts Of The Case Jose Samuel, proprietor of M/s Thankam Cashew Factory filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of Corporate Insolvency Resolution Process against the Respondent/ Corporate Debtor for the payment of the defaulted amount of Rs. Issues & Decision Res Judicata The Tribunal held that the previous application which was filed by the Power of Attorney holder of the applicant herein and the present application are identical- both seeking initiation of CIRP against the applicant with respect to the same High Sea Sale Contract.