The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a corporate debtor. However, a similar petition against the same corporate debtor had already been admitted by a co-equal bench. The earlier order was issued on 20.12.2018. The current petition was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016.
Madhulika Saraf & anr. filed a petition against AVJ Developers (India) Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. A prior petition against AVJ Developers (India) Pvt. Ltd. under Section 9 of the IBC had already been admitted on 20.12.2018. Section 11 of the Code prevents initiating another CIRP against a corporate debtor already undergoing CIRP. The court noted the petitioners could file claims with the Insolvency Professional, Mr. Ashok Kumar Juneja. The Interim Resolution Professional has specific duties under Sections 15, 17, 18, 19, 20 & 21 of the Code. Personnel connected with the Corporate Debtor have a legal obligation under Section 19 to assist the IRP.
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A co-equal bench admitted a petition under…
The court dismissed the current petition under…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a corporate debtor. However, a similar petition against the same corporate debtor had already been admitted by a co-equal bench. The earlier order was issued on 20.12.2018. The current petition was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016.
Madhulika Saraf & anr. filed a petition against AVJ Developers (India) Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. A prior petition against AVJ Developers (India) Pvt. Ltd. under Section 9 of the IBC had already been admitted on 20.12.2018. Section 11 of the Code prevents initiating another CIRP against a corporate debtor already undergoing CIRP. The court noted the petitioners could file claims with the Insolvency Professional, Mr. Ashok Kumar Juneja. The Interim Resolution Professional has specific duties under Sections 15, 17, 18, 19, 20 & 21 of the Code. Personnel connected with the Corporate Debtor have a legal obligation under Section 19 to assist the IRP.
A co-equal bench admitted a petition under…
The court dismissed the current petition under…