# In the matter of Karvy Data Management Services Ltd.

> NCLT judgment dated 2023-09-15. Citation: TCN-2023-NCLT-01600. The case pertains to CP(IB) No. 401/7/HDB/2022 under Section 7 of the IBC, 2016. The Corporate…

- **Court:** NCLT
- **Order date:** 15 Sept 2023
- **Citation:** TCN-2023-NCLT-01600
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/karvy-data-management-services-ltd-6dda2125

## Summary

### Background

The case pertains to CP(IB) No. 401/7/HDB/2022 under Section 7 of the IBC, 2016. The Corporate Debtor/Respondent has been admitted into CIRP vide order dated 15.09.2023 in CP No.25/7/HDB/2022.

## Facts

M/s. Mark & Steve Engineering Pvt Ltd is the Financial Creditor, and Karvy Data Management Services Ltd is the Corporate Debtor. The Corporate Debtor has been admitted into CIRP vide order dated 15.09.2023 in CP No.25/7/HDB/2022. The Financial Creditor filed CP(IB) No. 401/7/HDB/2022 under Section 7 of the IBC, 2016. The court considered the fact that CIRP has already been initiated against the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to raise …

**Ratio:** The petitioner is entitled to raise claims before the IRP/RP as per the procedure under

…

**Reasoning:** Since the Corporate Debtor has been admitted into CIRP, the petitioner, being a creditor,

…

**Interpretation:** This ensures that all creditors have an equal opportunity to participate in the

…

**Application:** The court allows the petitioner to raise its claim before the IRP/RP, ensuring

…

## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** M/s. Mark & Steve…
- **Respondents:** Karvy Data…

## Timeline

- **2023-09-15 — Hearing…**: Attendance cum order sheet of the…
- **2023-09-15 — CIRP Admi…**: Corporate Debtor/Respondent admitted into CIRP vide order dated 15.09.2023 in CP…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/karvy-data-management-services-ltd-6dda2125