The case involves a petition, T.C.P. No. 858/(MAH)/2017, before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition was initially filed in the High Court and subsequently transferred to the NCLT. The petitioner, Kantilal Manilal & Co. Pvt. Ltd., sought to pursue an outstanding debt of Rs. 51,30,621 against the respondent, Ultra Foods and Feeds Pvt. Ltd. However, prior to this petition, an order had already been passed by the NCLT in C.P. No. 1081/2017 under Section 9 of the Insolvency and Bankruptcy Code, 2016, admitting a petition against the respondent. A moratorium had been commenced, and the matter was referred to the Insolvency Bankruptcy Board for appointment of an Interim Resolution Professional (IRP).
Kantilal Manilal & Co. Pvt. Ltd. filed a petition (T.C.P. No. 858/(MAH)/2017) before the NCLT Mumbai Bench against Ultra Foods and Feeds Pvt. Ltd. seeking to recover an outstanding debt of Rs. 51,30,621. The petition was initially filed in the High Court and subsequently transferred to the NCLT. However, prior to this petition, the NCLT had already admitted a petition against Ultra Foods and Feeds Pvt. Ltd. (C.P. No. 1081/2017) under Section 9 of the Insolvency and Bankruptcy Code, 2016. This admission resulted in a moratorium and referral to the Insolvency Bankruptcy Board for appointment of an IRP. Given the existing insolvency proceedings, the court considered the viability of the current petition. The key fact is the prior admission of insolvency proceedings
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Form No. 5 was…
An order was passed by the NCLT in C.P. No.…
The case involves a petition, T.C.P. No. 858/(MAH)/2017, before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition was initially filed in the High Court and subsequently transferred to the NCLT. The petitioner, Kantilal Manilal & Co. Pvt. Ltd., sought to pursue an outstanding debt of Rs. 51,30,621 against the respondent, Ultra Foods and Feeds Pvt. Ltd. However, prior to this petition, an order had already been passed by the NCLT in C.P. No. 1081/2017 under Section 9 of the Insolvency and Bankruptcy Code, 2016, admitting a petition against the respondent. A moratorium had been commenced, and the matter was referred to the Insolvency Bankruptcy Board for appointment of an Interim Resolution Professional (IRP).
Kantilal Manilal & Co. Pvt. Ltd. filed a petition (T.C.P. No. 858/(MAH)/2017) before the NCLT Mumbai Bench against Ultra Foods and Feeds Pvt. Ltd. seeking to recover an outstanding debt of Rs. 51,30,621. The petition was initially filed in the High Court and subsequently transferred to the NCLT. However, prior to this petition, the NCLT had already admitted a petition against Ultra Foods and Feeds Pvt. Ltd. (C.P. No. 1081/2017) under Section 9 of the Insolvency and Bankruptcy Code, 2016. This admission resulted in a moratorium and referral to the Insolvency Bankruptcy Board for appointment of an IRP. Given the existing insolvency proceedings, the court considered the viability of the current petition. The key fact is the prior admission of insolvency proceedings
…Form No. 5 was…
An order was passed by the NCLT in C.P. No.…