M/s. Singh Fashion Fabrics, the operational creditor, filed a petition against M/s. AD Victoriam Ventures Pvt. Ltd, the corporate debtor, under Section 9 of the IBC code 2016. An order dated 21.10.2019 initiated the CIRP against the corporate debtor. The court disposed of the petition, directing the operational creditor to file a claim before the IRP without delay. The operational creditor was granted liberty to revive/restore the petition if a compromise between the corporate debtor and other creditors failed. The order dated 21.11.2019 was set aside in appeal. The presence of the counsel for the operational creditor was noted.

M/s. Singh Fashion Fabrics, the operational creditor, filed a petition against M/s. AD Victoriam Ventures Pvt. Ltd, the corporate debtor, under Section 9 of the IBC code 2016. An order dated 21.10.2019 initiated the CIRP against the corporate debtor. The court disposed of the petition, directing the operational creditor to file a claim before the IRP without delay. The operational creditor was granted liberty to revive/restore the petition if a compromise between the corporate debtor and other creditors failed. The order dated 21.11.2019 was set aside in appeal. The presence of the counsel for the operational creditor was noted.