National Realty Private Limited, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Parinee Developers Private Limited, the Corporate Debtor. However, CIRP had already been initiated against the Corporate Debtor via an order dated 09.06.2020 in CP (IB) No.4147/MB.II/2019.
National Realty Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Parinee Developers Private Limited (Corporate Debtor). The petition was filed because National Realty Private Limited is a creditor of Parinee Developers Private Limited. However, the Adjudicating Authority had already initiated CIRP against Parinee Developers Private Limited via an order dated 09.06.2020 in CP (IB) No.4147/MB.II/2019. Mr. Subhash Chandra Modi was appointed as the Interim Resolution Professional (IRP). The court dismissed the petition as infructuous, granting liberty to the Operational Creditor to file its claim before the IRP/RP and condoning any
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CIRP was initiated against Parinee…
The present petition…
National Realty Private Limited, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Parinee Developers Private Limited, the Corporate Debtor. However, CIRP had already been initiated against the Corporate Debtor via an order dated 09.06.2020 in CP (IB) No.4147/MB.II/2019.
National Realty Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Parinee Developers Private Limited (Corporate Debtor). The petition was filed because National Realty Private Limited is a creditor of Parinee Developers Private Limited. However, the Adjudicating Authority had already initiated CIRP against Parinee Developers Private Limited via an order dated 09.06.2020 in CP (IB) No.4147/MB.II/2019. Mr. Subhash Chandra Modi was appointed as the Interim Resolution Professional (IRP). The court dismissed the petition as infructuous, granting liberty to the Operational Creditor to file its claim before the IRP/RP and condoning any
…CIRP was initiated against Parinee…
The present petition…