The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The hearing was held on March 3, 2021, via video conferencing at the Chennai Bench of the National Company Law Tribunal (NCLT).
The case involves an insolvency application (IBA/357/2020) filed by Shri Sai Marketing against Saravana Stores Gold Palace Pvt. Ltd. under Section 9 of the IBC, 2016. On March 3, 2021, a hearing was conducted via video conferencing. However, neither Shri Sai Marketing (the petitioner) nor Saravana Stores Gold Palace Pvt. Ltd. (the corporate debtor) were present. Due to their absence, the NCLT dismissed the petition for non-prosecution. The absence of both parties suggests a lack of active pursuit of the case, leading to its dismissal.
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Hearing held on…
IBA/357/2020 filed…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The hearing was held on March 3, 2021, via video conferencing at the Chennai Bench of the National Company Law Tribunal (NCLT).
The case involves an insolvency application (IBA/357/2020) filed by Shri Sai Marketing against Saravana Stores Gold Palace Pvt. Ltd. under Section 9 of the IBC, 2016. On March 3, 2021, a hearing was conducted via video conferencing. However, neither Shri Sai Marketing (the petitioner) nor Saravana Stores Gold Palace Pvt. Ltd. (the corporate debtor) were present. Due to their absence, the NCLT dismissed the petition for non-prosecution. The absence of both parties suggests a lack of active pursuit of the case, leading to its dismissal.
Hearing held on…
IBA/357/2020 filed…