# In the matter of Gurudev Financial Services Pvt. Ltd. IB-805-PB-2019

> NCLT judgment dated 2022-05-04. Citation: TCN-2022-NCLT-02895. The case pertains to an application filed under Section 7 of the IBC Code, 2016. The matter…

- **Court:** NCLT
- **Order date:** 4 May 2022
- **Citation:** TCN-2022-NCLT-02895
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gurudev-financial-services-pvt-ltd-ib-805-pb-2019-0acd9739

## Summary

### Background

The case pertains to an application filed under Section 7 of the IBC Code, 2016. The matter involves M/s. Modland Wears Pvt. Ltd. as the petitioner and M/s. Gurudev Financial Services Pvt. Ltd. as the respondent. The order was delivered on 04.05.2022 during a virtual hearing.

## Facts

M/s. Modland Wears Pvt. Ltd. filed an application against M/s. Gurudev Financial Services Pvt. Ltd. under Section 7 of the IBC Code, 2016. The court heard the submissions made by the Proxy Counsel for the Financial Creditor. The court directed the Counsel for the Financial Creditor to appear on the next date of hearing and apprise the Tribunal about the total background of the matter. The court also directed the Counsel for the Financial Creditor to inform the Counsel for the Corporate Debtor and the Corporate Debtor to appear on the next date of hearing. The Court Officer was directed to serve e-notice on the Financial Creditor and the Corporate Debtor. The court made it clear that if the parties fail to appear on the next date of hearing, the matter will be

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## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** M/s. Modland…
- **Respondents:** M/s. Gurudev…

## Timeline

- **2022-05-04 — Order Del…**: Order delivered on…
- **2022-05-20 — Next Hearin…**: Matter listed for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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