M/s. Aarc & Co. filed an application under Section 9 of the IBC Code, 2016, against AD Victoriam Ventures Pvt. Ltd. The Corporate Debtor, AD Victoriam Ventures Pvt. Ltd., was already undergoing Corporate Insolvency Resolution Process (CIRP) as per an order dated 2019-11-21. The applicant sought certain reliefs, and the court considered the fact that CIRP was already in progress. The court disposed of the petition but granted liberty to the applicant to restore or revive the petition if a compromise with other creditors is reached or if the order in appeal is set aside. This suggests that the court acknowledged the ongoing CIRP and its potential impact on the current petition.

M/s. Aarc & Co. filed an application under Section 9 of the IBC Code, 2016, against AD Victoriam Ventures Pvt. Ltd. The Corporate Debtor, AD Victoriam Ventures Pvt. Ltd., was already undergoing Corporate Insolvency Resolution Process (CIRP) as per an order dated 2019-11-21. The applicant sought certain reliefs, and the court considered the fact that CIRP was already in progress. The court disposed of the petition but granted liberty to the applicant to restore or revive the petition if a compromise with other creditors is reached or if the order in appeal is set aside. This suggests that the court acknowledged the ongoing CIRP and its potential impact on the current petition.