The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Resolution Professional (RP) submitted that Corporate Insolvency Resolution Process (CIRP) had already been initiated against the same Corporate Debtor, Rajpal Abhikaran Pvt. Ltd., vide order dated 26.03.2021 in CP(IB) No. 6 of 2020.
PPG Asian Paints Pvt Ltd filed an application under Section 7 of the IBC against Rajpal Abhikaran Pvt Ltd. The Resolution Professional (RP) submitted that CIRP had already been initiated against Rajpal Abhikaran Pvt Ltd vide order dated 26.03.2021 in CP(IB) No. 6 of 2020. The petitioner, PPG Asian Paints Pvt Ltd, is already a member of the Committee of Creditors (CoC) in CP(IB) No. 6 of 2020. Because CIRP was already initiated, the court considered the application CP(IB) 13 of 2020 to be infructuous.
Sign in to view the parties.
CIRP was initiated against Rajpal Abhikaran…
Order delivered…
Sign in to view related legal provisions.
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Resolution Professional (RP) submitted that Corporate Insolvency Resolution Process (CIRP) had already been initiated against the same Corporate Debtor, Rajpal Abhikaran Pvt. Ltd., vide order dated 26.03.2021 in CP(IB) No. 6 of 2020.
PPG Asian Paints Pvt Ltd filed an application under Section 7 of the IBC against Rajpal Abhikaran Pvt Ltd. The Resolution Professional (RP) submitted that CIRP had already been initiated against Rajpal Abhikaran Pvt Ltd vide order dated 26.03.2021 in CP(IB) No. 6 of 2020. The petitioner, PPG Asian Paints Pvt Ltd, is already a member of the Committee of Creditors (CoC) in CP(IB) No. 6 of 2020. Because CIRP was already initiated, the court considered the application CP(IB) 13 of 2020 to be infructuous.
CIRP was initiated against Rajpal Abhikaran…
Order delivered…
Sign in to view related legal provisions.