Bank of Baroda, the Financial Creditor, filed a Company Petition against M/s Karvy Data Management Service Ltd, the Corporate Debtor. The Corporate Debtor was admitted into CIRP vide order dated 15.09.2023 in CP No.25/7/HDB/2022. The petitioner is now allowed to raise a claim before the IRP/RP. The IRP/RP is directed to examine the same as per the provisions of the Code. The court also addressed the scenario where the CIRP order is set aside or the parties resolve the matter amicably, in which case the petitioner is at liberty to approach the Tribunal in accordance with law. The relevance of the CIRP admission is that it impacts the process for claim resolution.

Bank of Baroda, the Financial Creditor, filed a Company Petition against M/s Karvy Data Management Service Ltd, the Corporate Debtor. The Corporate Debtor was admitted into CIRP vide order dated 15.09.2023 in CP No.25/7/HDB/2022. The petitioner is now allowed to raise a claim before the IRP/RP. The IRP/RP is directed to examine the same as per the provisions of the Code. The court also addressed the scenario where the CIRP order is set aside or the parties resolve the matter amicably, in which case the petitioner is at liberty to approach the Tribunal in accordance with law. The relevance of the CIRP admission is that it impacts the process for claim resolution.