# In the matter of Hiranmaye Energy Limited vs. A. K. Enterprise

> HC judgment dated 2024-01-09. Citation: TCN-2024-HC-00136. The case involves Hiranmaye Energy Limited versus M/S. A. K. Enterprise in the High Court at…

- **Court:** HC
- **Order date:** 9 Jan 2024
- **Citation:** TCN-2024-HC-00136
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/hiranmaye-energy-limited-vs-a-k-enterprise-2a4ce243

## Summary

### Background

The case involves Hiranmaye Energy Limited versus M/S. A. K. Enterprise in the High Court at Calcutta, concerning a matter under its Ordinary Original Civil Jurisdiction (Commercial Division). The petitioner, Hiranmaye Energy Limited, is facing CIRP proceedings initiated against them. An order from the NCLT, Kolkata Bench, is presented as evidence of the CIRP initiation.

## Facts

Hiranmaye Energy Limited is the petitioner in a case against M/S. A. K. Enterprise. CIRP has been initiated against Hiranmaye Energy Limited on January 2, 2024, as evidenced by an order from the NCLT, Kolkata Bench. The award-holder, presumably M/S. A. K. Enterprise, is now required to proceed before the IRP under the IBC, 2016, to pursue its claims against Hiranmaye Energy Limited based on an existing award. The court has removed the matter from the list, allowing either party to request its re-inclusion.

## Issues and analysis

### Issue 1: Whether the award-holder should proceed before the IRP under the IBC, 2016, given the initiation of …

**Ratio:** The initiation of CIRP against a corporate debtor triggers the provisions of the IBC,

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**Reasoning:** The court's direction for the award-holder to proceed before the IRP is based on the

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**Interpretation:** The IBC, 2016, provides a comprehensive mechanism for dealing with the assets

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**Application:** In this case, the initiation of CIRP against Hiranmaye Energy Limited

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## Parties

- **Judges:** Moushumi Bhattacha…
- **Respondents:** HIRANMAYE ENERGY…; M/S. A. K.…
- **Other parties:** Kohi…

## Timeline

- **2024-01-02 — CIRP Init…**: CIRP initiated against…
- **2024-01-09 — Court He…**: Court directs award-holder to proceed before the IRP under IBC, 2016. Matter removed from…

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