Syndicate Steel Traders, a partnership firm represented by Rakesh Mohan Singhal, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Wall Rock Infrahome Pvt. Ltd. The petition was filed due to an alleged default by Wall Rock Infrahome. However, the Tribunal noted that a CIRP had already been initiated against the same Corporate Debtor in another petition filed by Volga Estates Pvt. Ltd.
Syndicate Steel Traders, a partnership firm, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Wall Rock Infrahome Pvt. Ltd. The petition was based on an alleged default by Wall Rock Infrahome. However, the NCLT noted that a CIRP had already been initiated against Wall Rock Infrahome in another petition filed by Volga Estates Pvt. Ltd. The order initiating the CIRP in the Volga Estates case was dated 2019-12-17. Section 11 of the IBC prohibits initiating another CIRP against a corporate debtor already undergoing CIRP. Syndicate Steel Traders was given the liberty to file their claim before the Insolvency Resolution Professional (IRP) appointed in the existing CIRP and to
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The Insolvency and…
Order was passed in the matter of M/s Volga…
Syndicate Steel Traders, a partnership firm represented by Rakesh Mohan Singhal, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Wall Rock Infrahome Pvt. Ltd. The petition was filed due to an alleged default by Wall Rock Infrahome. However, the Tribunal noted that a CIRP had already been initiated against the same Corporate Debtor in another petition filed by Volga Estates Pvt. Ltd.
Syndicate Steel Traders, a partnership firm, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Wall Rock Infrahome Pvt. Ltd. The petition was based on an alleged default by Wall Rock Infrahome. However, the NCLT noted that a CIRP had already been initiated against Wall Rock Infrahome in another petition filed by Volga Estates Pvt. Ltd. The order initiating the CIRP in the Volga Estates case was dated 2019-12-17. Section 11 of the IBC prohibits initiating another CIRP against a corporate debtor already undergoing CIRP. Syndicate Steel Traders was given the liberty to file their claim before the Insolvency Resolution Professional (IRP) appointed in the existing CIRP and to
…The Insolvency and…
Order was passed in the matter of M/s Volga…