The case pertains to a transfer petition filed under the Insolvency and Bankruptcy Code (IBC). The corporate debtor is VMC Systems Ltd. The State Bank of India is the petitioner. The court is addressing the application under Section 95 of the IBC.
The State Bank of India filed a petition against VMC Systems Ltd under Section 95 of the IBC. The court acknowledged the appearance of counsels for both the Financial Creditor (FC) and the Corporate Debtor. The court then ordered an interim moratorium to commence from the date of filing the application under section 96(1)(a) of the I&B Code, 2016. Shri Raghu Babu Gunturu was appointed as the Interim Resolution Professional (IRP). The IRP is required to submit a report under section 99 of the I&B Code within 10 days. The respondents have two weeks to file a reply, and the petitioners have two weeks thereafter to file a rejoinder. The case was adjourned to 01.09.2021.
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Hearing he…
Interim moratorium commences from the date of…
The case pertains to a transfer petition filed under the Insolvency and Bankruptcy Code (IBC). The corporate debtor is VMC Systems Ltd. The State Bank of India is the petitioner. The court is addressing the application under Section 95 of the IBC.
The State Bank of India filed a petition against VMC Systems Ltd under Section 95 of the IBC. The court acknowledged the appearance of counsels for both the Financial Creditor (FC) and the Corporate Debtor. The court then ordered an interim moratorium to commence from the date of filing the application under section 96(1)(a) of the I&B Code, 2016. Shri Raghu Babu Gunturu was appointed as the Interim Resolution Professional (IRP). The IRP is required to submit a report under section 99 of the I&B Code within 10 days. The respondents have two weeks to file a reply, and the petitioners have two weeks thereafter to file a rejoinder. The case was adjourned to 01.09.2021.
Hearing he…
Interim moratorium commences from the date of…