As per the case facts an operational creditor who had a court decree in its favor against a company in winding-up proceedings filed an appeal against a National Company Law ... Appellate Tribunal judgment The creditor argued that the respondent had hidden the ongoing winding-up proceeding when filing an application under Section of the IBC The question arose whether a winding-up proceeding takes precedence over a Section IBC application or whether the alleged suppression of the proceeding affects the IBC petition Finally the Supreme Court dismissed the appeal and held that a Section proceeding under the IBC is an independent proceeding that is to be decided on its own merits It was ruled that the suppression of a winding-up proceeding has no effect on a Section petition as long as the provisions of the IBC are met