The case involves an operational creditor, Moksha Designs Pvt. Ltd., filing a petition against the corporate debtor, AD Victoriam Ventures Pvt. Ltd. The Corporate Debtor is already undergoing a Corporate Insolvency Resolution Process (CIRP) under an order dated November 21, 2019.
Moksha Designs Pvt. Ltd., the operational creditor, filed a petition against AD Victoriam Ventures Pvt. Ltd., the corporate debtor. The corporate debtor's counsel submitted that the corporate debtor was already undergoing CIRP under an order dated November 21, 2019. The court acknowledged this and directed Moksha Designs to file its claim with the IRP/RP within the stipulated time. The petition was disposed of, but Moksha Designs was granted liberty to revive the petition if AD Victoriam Ventures compromises with other creditors or if the November 21, 2019 order is set aside on appeal. The fact that the corporate debtor is already undergoing CIRP is a key fact that influenced the court's decision to dispose of the petition and direct the operational creditor to file
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The case involves an operational creditor, Moksha Designs Pvt. Ltd., filing a petition against the corporate debtor, AD Victoriam Ventures Pvt. Ltd. The Corporate Debtor is already undergoing a Corporate Insolvency Resolution Process (CIRP) under an order dated November 21, 2019.
Moksha Designs Pvt. Ltd., the operational creditor, filed a petition against AD Victoriam Ventures Pvt. Ltd., the corporate debtor. The corporate debtor's counsel submitted that the corporate debtor was already undergoing CIRP under an order dated November 21, 2019. The court acknowledged this and directed Moksha Designs to file its claim with the IRP/RP within the stipulated time. The petition was disposed of, but Moksha Designs was granted liberty to revive the petition if AD Victoriam Ventures compromises with other creditors or if the November 21, 2019 order is set aside on appeal. The fact that the corporate debtor is already undergoing CIRP is a key fact that influenced the court's decision to dispose of the petition and direct the operational creditor to file
…An order was passed to initiate the…
The order regarding the…