American Exports Banking Corp filed a petition against Compact Lamps Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. However, a petition against the same corporate debtor under Section 9 of the IBC, 2016, filed by Captain Offset Printers, had already been admitted vide order dated 11.01.2019. The court noted that another Corporate Insolvency Process cannot be initiated against a corporate debtor already undergoing such a process.
American Exports Banking Corp filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Compact Lamps Pvt. Ltd. A prior petition under Section 9 of the same code had already been admitted against Compact Lamps Pvt. Ltd. by Captain Offset Printers on 11.01.2019. Section 11 of the Code states that another Corporate Insolvency Process cannot be initiated against a corporate debtor already undergoing such a process. The petitioner would be entitled to file their claim before the Insolvency Professional, Ms. Deepika Bhugra Prasad.
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Order passed admitting a petition under Section…
The court dismissed the petition filed by…
American Exports Banking Corp filed a petition against Compact Lamps Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. However, a petition against the same corporate debtor under Section 9 of the IBC, 2016, filed by Captain Offset Printers, had already been admitted vide order dated 11.01.2019. The court noted that another Corporate Insolvency Process cannot be initiated against a corporate debtor already undergoing such a process.
American Exports Banking Corp filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Compact Lamps Pvt. Ltd. A prior petition under Section 9 of the same code had already been admitted against Compact Lamps Pvt. Ltd. by Captain Offset Printers on 11.01.2019. Section 11 of the Code states that another Corporate Insolvency Process cannot be initiated against a corporate debtor already undergoing such a process. The petitioner would be entitled to file their claim before the Insolvency Professional, Ms. Deepika Bhugra Prasad.
Order passed admitting a petition under Section…
The court dismissed the petition filed by…