The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s. Vipul Greens Residents Welfare Association, a registered Resident Welfare Association, through its Authorized Representatives Mr. Sunil Chopra and Mr. Sameer Kohli, seeking to initiate the Corporate Insolvency process against M/s Vipul Ltd.
M/s Vipul Greens Residents Welfare Association filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency process against M/s Vipul Ltd. The Financial Creditor, M/s Vipul Greens Residents Welfare Association, is a registered Resident Welfare Association. The petition was supported by a Board Resolution dated 03.02.2019. However, the court noted that a CIRP had already been initiated against the same Corporate Debtor, M/s. Vipul Limited, in another petition, namely M/s Shambhu Agencies Pvt. Ltd. Vs Vipul. Ltd., [IB-3051/(ND)/2019], vide Order dated 15.01.2020. The key fact is the existence of a prior CIRP against the same Corporate Debtor, which influenced the court's decision.
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Board Resolution passed by M/s. Vipul Greens…
Order dated 15.01.2020 passed in the matter of…
The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s. Vipul Greens Residents Welfare Association, a registered Resident Welfare Association, through its Authorized Representatives Mr. Sunil Chopra and Mr. Sameer Kohli, seeking to initiate the Corporate Insolvency process against M/s Vipul Ltd.
M/s Vipul Greens Residents Welfare Association filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency process against M/s Vipul Ltd. The Financial Creditor, M/s Vipul Greens Residents Welfare Association, is a registered Resident Welfare Association. The petition was supported by a Board Resolution dated 03.02.2019. However, the court noted that a CIRP had already been initiated against the same Corporate Debtor, M/s. Vipul Limited, in another petition, namely M/s Shambhu Agencies Pvt. Ltd. Vs Vipul. Ltd., [IB-3051/(ND)/2019], vide Order dated 15.01.2020. The key fact is the existence of a prior CIRP against the same Corporate Debtor, which influenced the court's decision.
Board Resolution passed by M/s. Vipul Greens…
Order dated 15.01.2020 passed in the matter of…