Padwick Properties Ltd filed a petition against Punj Lloyd Ltd under Section 9 of the Insolvency & Bankruptcy Code, 2016. However, a petition under Section 7 of the same code had already been admitted against Punj Lloyd Ltd by ICICI Bank Limited, vide order dated 08.03.2019. Section 11 of the Code, 2016, prohibits initiating another Corporate Insolvency Process against a corporate debtor already undergoing such a process. The petitioners were informed that they could file their claim before the Insolvency Professional, Mr. Gaurav Gupta. The court dismissed Padwick Properties' petition as infructuous, but allowed them to revive it if the earlier order was set aside by the Appellate Tribunal.

Padwick Properties Ltd filed a petition against Punj Lloyd Ltd under Section 9 of the Insolvency & Bankruptcy Code, 2016. However, a petition under Section 7 of the same code had already been admitted against Punj Lloyd Ltd by ICICI Bank Limited, vide order dated 08.03.2019. Section 11 of the Code, 2016, prohibits initiating another Corporate Insolvency Process against a corporate debtor already undergoing such a process. The petitioners were informed that they could file their claim before the Insolvency Professional, Mr. Gaurav Gupta. The court dismissed Padwick Properties' petition as infructuous, but allowed them to revive it if the earlier order was set aside by the Appellate Tribunal.