The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was initially admitted against the Corporate Debtor in IBA/579/2019.
The State Bank of India filed an application (IBA/646/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Floram Shoes (India) Pvt Ltd. However, a similar application (IBA/579/2019) had already been admitted against the same Corporate Debtor. The court dismissed the subsequent application (IBA/646/2019) but allowed the Financial Creditor to make its claim before the IRP appointed in the earlier case (IBA/579/2019).
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Hearing of the Chennai…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was initially admitted against the Corporate Debtor in IBA/579/2019.
The State Bank of India filed an application (IBA/646/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Floram Shoes (India) Pvt Ltd. However, a similar application (IBA/579/2019) had already been admitted against the same Corporate Debtor. The court dismissed the subsequent application (IBA/646/2019) but allowed the Financial Creditor to make its claim before the IRP appointed in the earlier case (IBA/579/2019).
Hearing of the Chennai…