The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Shri Mohan Lal, a Sole Proprietor in the Firm namely, M/s Sri Lakshmi Enterprises, seeking to initiate the Corporate Insolvency Resolution Process against M/s Sharma Kalypso Private Limited.
Sri Lakshmi Enterprises, through its sole proprietor Shri Mohan Lal, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Sharma Kalypso Private Limited. The petition was filed because Sri Lakshmi Enterprises was an operational creditor to Sharma Kalypso Private Limited. However, the NCLT found that a CIRP had already been initiated against Sharma Kalypso Private Limited in another petition filed by Corporation Bank. Section 11 of the IBC prevents the initiation of another CIRP against a corporate debtor already undergoing a CIRP. The court disposed of the petition, allowing Sri Lakshmi Enterprises to file its claim with the IRP appointed in the existing CIRP and to revive its
…Sign in to view the parties.
Company Petition No. IB-2142/ND/2019 filed by…
Order dated 02.01.2020 passed in Corporation…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Shri Mohan Lal, a Sole Proprietor in the Firm namely, M/s Sri Lakshmi Enterprises, seeking to initiate the Corporate Insolvency Resolution Process against M/s Sharma Kalypso Private Limited.
Sri Lakshmi Enterprises, through its sole proprietor Shri Mohan Lal, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Sharma Kalypso Private Limited. The petition was filed because Sri Lakshmi Enterprises was an operational creditor to Sharma Kalypso Private Limited. However, the NCLT found that a CIRP had already been initiated against Sharma Kalypso Private Limited in another petition filed by Corporation Bank. Section 11 of the IBC prevents the initiation of another CIRP against a corporate debtor already undergoing a CIRP. The court disposed of the petition, allowing Sri Lakshmi Enterprises to file its claim with the IRP appointed in the existing CIRP and to revive its
…Company Petition No. IB-2142/ND/2019 filed by…
Order dated 02.01.2020 passed in Corporation…