M/s Real Soya Enterprises, a proprietorship firm, filed a petition as an operational creditor against M/s Sahs Lifesciences Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 19.12.2018. The operational creditor did not propose an Interim Resolution Professional (IRP). The Insolvency and Bankruptcy Board of India (IBBI) guidelines state that if the operational creditor does not propose an IRP, the appointment can be made from the bench-wise list of Insolvency Professionals. Mr. Joy Kumar Jain was identified as a suitable IRP from the Chandigarh Bench panel, and no adverse information was found against him. The court then proceeded to declare a moratorium and appoint Mr. Jain as the IRP.

M/s Real Soya Enterprises, a proprietorship firm, filed a petition as an operational creditor against M/s Sahs Lifesciences Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 19.12.2018. The operational creditor did not propose an Interim Resolution Professional (IRP). The Insolvency and Bankruptcy Board of India (IBBI) guidelines state that if the operational creditor does not propose an IRP, the appointment can be made from the bench-wise list of Insolvency Professionals. Mr. Joy Kumar Jain was identified as a suitable IRP from the Chandigarh Bench panel, and no adverse information was found against him. The court then proceeded to declare a moratorium and appoint Mr. Jain as the IRP.