Moksha Designs Pvt. Ltd. filed a petition against AD Victoriam Ventures Pvt. Ltd., the corporate debtor, as an operational creditor. The corporate debtor is already undergoing CIRP under an order dated November 21, 2019. The operational creditor was directed to file their claim with the IRP/RP within the stipulated time. The petition was disposed of, but the operational creditor was granted liberty to revive the petition if the corporate debtor enters into a compromise with other creditors or if the CIRP order is set aside in appeal. This ensures the operational creditor's claim can be considered within the existing CIRP framework, while also providing a contingency if the CIRP is altered or terminated.

Moksha Designs Pvt. Ltd. filed a petition against AD Victoriam Ventures Pvt. Ltd., the corporate debtor, as an operational creditor. The corporate debtor is already undergoing CIRP under an order dated November 21, 2019. The operational creditor was directed to file their claim with the IRP/RP within the stipulated time. The petition was disposed of, but the operational creditor was granted liberty to revive the petition if the corporate debtor enters into a compromise with other creditors or if the CIRP order is set aside in appeal. This ensures the operational creditor's claim can be considered within the existing CIRP framework, while also providing a contingency if the CIRP is altered or terminated.