The case involves a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, regarding a corporate debtor. A prior petition by Shilpa Jain & anr. v. Raheja Developers Limited, [(IB)-1321(PB)/2018] was already admitted on 20.08.2019. The current petition, filed by Mr. Tuhin Gupta & anr., seeks to initiate another Corporate Insolvency Process against a corporate debtor already undergoing a corporate insolvency resolution process.
Mr. Tuhin Gupta & anr. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. Raheja Developers Ltd. is the respondent. A prior insolvency petition against Raheja Developers Limited filed by Shilpa Jain & anr. was already admitted on 20.08.2019. Section 11 of the Code states that another Corporate Insolvency Process cannot be initiated against a corporate debtor already undergoing such a process. The petitioners are entitled to file their claim before the Insolvency Professional, Mr. Jitesh Gupta.
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Shilpa Jain & anr. filed a petition…
The petition filed by…
The case involves a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, regarding a corporate debtor. A prior petition by Shilpa Jain & anr. v. Raheja Developers Limited, [(IB)-1321(PB)/2018] was already admitted on 20.08.2019. The current petition, filed by Mr. Tuhin Gupta & anr., seeks to initiate another Corporate Insolvency Process against a corporate debtor already undergoing a corporate insolvency resolution process.
Mr. Tuhin Gupta & anr. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. Raheja Developers Ltd. is the respondent. A prior insolvency petition against Raheja Developers Limited filed by Shilpa Jain & anr. was already admitted on 20.08.2019. Section 11 of the Code states that another Corporate Insolvency Process cannot be initiated against a corporate debtor already undergoing such a process. The petitioners are entitled to file their claim before the Insolvency Professional, Mr. Jitesh Gupta.
Shilpa Jain & anr. filed a petition…
The petition filed by…