The case pertains to a petition filed by an Operational Creditor against a Corporate Debtor under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the National Company Law Tribunal (NCLT), Mumbai Bench.
H. P. Zala, an Operational Creditor, filed a petition against Pratibha Industries Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the Mumbai Bench of the National Company Law Tribunal (NCLT). However, the Corporate Debtor, Pratibha Industries Ltd, was already undergoing the Corporate Insolvency Resolution Process (CIRP). Because of the ongoing CIRP, the NCLT determined that the petition filed by the Operational Creditor was not maintainable under the existing circumstances.
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Hearing of Mumbai Bench…
The case pertains to a petition filed by an Operational Creditor against a Corporate Debtor under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the National Company Law Tribunal (NCLT), Mumbai Bench.
H. P. Zala, an Operational Creditor, filed a petition against Pratibha Industries Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed before the Mumbai Bench of the National Company Law Tribunal (NCLT). However, the Corporate Debtor, Pratibha Industries Ltd, was already undergoing the Corporate Insolvency Resolution Process (CIRP). Because of the ongoing CIRP, the NCLT determined that the petition filed by the Operational Creditor was not maintainable under the existing circumstances.
Hearing of Mumbai Bench…