The matter pertains to CP (IB) No. 110Chd/Hry/2021 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, Parvez Chugh, is an operational creditor, and the respondent, Zenica Performance Car Pvt. Ltd., is the corporate debtor. During the hearing, the counsel for the petitioner informed the court that a corporate insolvency resolution process (CIRP) had already been initiated against the same corporate debtor under CP (IB) No. 262/Chd/Hry/2018, filed by Volkswagen Finance Pvt. Ltd., and admitted by the Adjudicating Authority on March 22, 2021.
Parvez Chugh, an operational creditor, filed CP (IB) No. 110Chd/Hry/2021 against Zenica Performance Car Pvt. Ltd., the corporate debtor, under Section 9 of the IBC, 2016. During the hearing, the petitioner's counsel informed the court that a CIRP had already been initiated against Zenica Performance Car Pvt. Ltd. under CP (IB) No. 262/Chd/Hry/2018, filed by Volkswagen Finance Pvt. Ltd., and admitted on March 22, 2021. This prior CIRP is a critical fact, as it directly influenced the court's decision to dispose of the current application, allowing the petitioner to pursue their claim within the existing insolvency proceedings.
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Corporate insolvency resolution process (CIRP)…
CP (IB) No. 262/Chd/Hry/2018 filed by…
The matter pertains to CP (IB) No. 110Chd/Hry/2021 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, Parvez Chugh, is an operational creditor, and the respondent, Zenica Performance Car Pvt. Ltd., is the corporate debtor. During the hearing, the counsel for the petitioner informed the court that a corporate insolvency resolution process (CIRP) had already been initiated against the same corporate debtor under CP (IB) No. 262/Chd/Hry/2018, filed by Volkswagen Finance Pvt. Ltd., and admitted by the Adjudicating Authority on March 22, 2021.
Parvez Chugh, an operational creditor, filed CP (IB) No. 110Chd/Hry/2021 against Zenica Performance Car Pvt. Ltd., the corporate debtor, under Section 9 of the IBC, 2016. During the hearing, the petitioner's counsel informed the court that a CIRP had already been initiated against Zenica Performance Car Pvt. Ltd. under CP (IB) No. 262/Chd/Hry/2018, filed by Volkswagen Finance Pvt. Ltd., and admitted on March 22, 2021. This prior CIRP is a critical fact, as it directly influenced the court's decision to dispose of the current application, allowing the petitioner to pursue their claim within the existing insolvency proceedings.
Corporate insolvency resolution process (CIRP)…
CP (IB) No. 262/Chd/Hry/2018 filed by…