Punjab National Bank, as a Financial Creditor, filed an application against M/s Bansal Diamonds Private Limited, the Corporate Debtor, seeking initiation of CIRP. The application was based on a Corporate Guarantee provided by the Corporate Debtor for a loan sanctioned to M/s SSK Trading Private Limited. The court observed that a CIRP against the same Corporate Debtor had already been initiated under Section 7 of the IBC in another case, CP (IB)-945(PB)/2020, vide order dated 10.05.2022. Therefore, the court disposed of the present application, allowing the applicant to submit their claim in the existing CIRP.

Punjab National Bank, as a Financial Creditor, filed an application against M/s Bansal Diamonds Private Limited, the Corporate Debtor, seeking initiation of CIRP. The application was based on a Corporate Guarantee provided by the Corporate Debtor for a loan sanctioned to M/s SSK Trading Private Limited. The court observed that a CIRP against the same Corporate Debtor had already been initiated under Section 7 of the IBC in another case, CP (IB)-945(PB)/2020, vide order dated 10.05.2022. Therefore, the court disposed of the present application, allowing the applicant to submit their claim in the existing CIRP.