M/s Arcon & Associates, acting as the operational creditor, filed an application against Ahluwalia Contracts (India) Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code (IBC). The application number was CP No. (IB)-2135/(ND)/2019. The application sought the initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to an alleged default in payment of operational debt. The NCLT admitted the application on May 5, 2021, and initiated the CIRP. The applicant was given the liberty to file its claim before the Interim Resolution Professional (IRP). The order also clarified that if the CIRP order is set aside, the applicant can take recourse under the law.

M/s Arcon & Associates, acting as the operational creditor, filed an application against Ahluwalia Contracts (India) Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code (IBC). The application number was CP No. (IB)-2135/(ND)/2019. The application sought the initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to an alleged default in payment of operational debt. The NCLT admitted the application on May 5, 2021, and initiated the CIRP. The applicant was given the liberty to file its claim before the Interim Resolution Professional (IRP). The order also clarified that if the CIRP order is set aside, the applicant can take recourse under the law.