The case involves a Company Petition (IB/82/2022) before the National Company Law Tribunal (NCLT), Hyderabad Bench. The Corporate Debtor, Jeevan Polymers Pvt Ltd, has already been admitted into Corporate Insolvency Resolution Process (CIRP) under another Company Petition (CP (IB) No.260/9/HDB/2020). The Financial Creditor appeared via video conference, while there was no representation for the Corporate Debtor.
The key facts are as follows: Jeevan Polymers Pvt Ltd (Corporate Debtor) is already undergoing CIRP under CP (IB) No.260/9/HDB/2020. Union Bank of India (Financial Creditor) filed Company Petition IB/82/2022 against Jeevan Polymers Pvt Ltd. The Financial Creditor's counsel appeared via video conference. There was no representation for the Corporate Debtor. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The relevance of the existing CIRP is that it makes the new petition infructuous.
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The case involves a Company Petition (IB/82/2022) before the National Company Law Tribunal (NCLT), Hyderabad Bench. The Corporate Debtor, Jeevan Polymers Pvt Ltd, has already been admitted into Corporate Insolvency Resolution Process (CIRP) under another Company Petition (CP (IB) No.260/9/HDB/2020). The Financial Creditor appeared via video conference, while there was no representation for the Corporate Debtor.
The key facts are as follows: Jeevan Polymers Pvt Ltd (Corporate Debtor) is already undergoing CIRP under CP (IB) No.260/9/HDB/2020. Union Bank of India (Financial Creditor) filed Company Petition IB/82/2022 against Jeevan Polymers Pvt Ltd. The Financial Creditor's counsel appeared via video conference. There was no representation for the Corporate Debtor. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The relevance of the existing CIRP is that it makes the new petition infructuous.
Corporate Debtor…
Hearing held on…
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