The case pertains to CP(IB) No. 274/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. The petitioner, Parasmani Polymers LLP, filed an IB petition. However, an IB petition under Section 7 has already been admitted against the Corporate Debtor, Khushbu Vinyl Pvt. Ltd., in CP(IB) 60/2019. The petitioner, therefore, sought to withdraw the instant petition.
Parasmani Polymers LLP filed an IB petition against Khushbu Vinyl Pvt. Ltd. However, an IB petition under Section 7 of the Insolvency and Bankruptcy Code had already been admitted against Khushbu Vinyl Pvt. Ltd. in CP(IB) 60/2019 on 2019-07-19. Consequently, the lawyer representing Parasmani Polymers LLP submitted that they would not press the instant petition and filed a pursis to withdraw it. The court then dismissed CP(IB) 274/2019 as withdrawn, allowing the petitioner to file their claim before the IRP/RP.
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An IB Petition filed under section 7 was…
The Ahmedabad Bench of the National Company Law…
The case pertains to CP(IB) No. 274/9/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. The petitioner, Parasmani Polymers LLP, filed an IB petition. However, an IB petition under Section 7 has already been admitted against the Corporate Debtor, Khushbu Vinyl Pvt. Ltd., in CP(IB) 60/2019. The petitioner, therefore, sought to withdraw the instant petition.
Parasmani Polymers LLP filed an IB petition against Khushbu Vinyl Pvt. Ltd. However, an IB petition under Section 7 of the Insolvency and Bankruptcy Code had already been admitted against Khushbu Vinyl Pvt. Ltd. in CP(IB) 60/2019 on 2019-07-19. Consequently, the lawyer representing Parasmani Polymers LLP submitted that they would not press the instant petition and filed a pursis to withdraw it. The court then dismissed CP(IB) 274/2019 as withdrawn, allowing the petitioner to file their claim before the IRP/RP.
An IB Petition filed under section 7 was…
The Ahmedabad Bench of the National Company Law…