The Interlocutory Application (IA No. 1694/2021) was filed by Manish Fashionworld Private Limited, the Operational Creditor, under Rule 11 of the NCLT Rules, seeking revival of CP (IB) No. 2980/MB/2019. This corporate insolvency resolution process (CIRP) was initially filed under Section 9 of the Code against MnM Marketing Private Limited, the Corporate Debtor, but was dismissed as withdrawn on 18.12.2019 based on consent terms.
Manish Fashionworld Private Limited, the Operational Creditor, filed an application to revive CP (IB) No. 2980/MB/2019 against MnM Marketing Private Limited, the Corporate Debtor. The original CIRP was dismissed on 18.12.2019 based on consent terms. The Operational Creditor claimed that the Corporate Debtor defaulted on payments agreed upon in the consent terms, specifically regarding post-dated cheques. Three post-dated cheques were issued: one for Rs. 10,00,000/- dated 23.01.2020, another for Rs. 11,25,110/- dated 23.02.2020, and a third for Rs. 13,09,790/- dated 28.04.2020. The cheque dated 23.01.2020 was honored, but the Operational Creditor delayed encashment of the other two cheques at the Corporate Debtor's request. These two cheques were ultimately not paid.
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The Corporate Insolvency Resolution Process…
Post-dated cheque for…
The Interlocutory Application (IA No. 1694/2021) was filed by Manish Fashionworld Private Limited, the Operational Creditor, under Rule 11 of the NCLT Rules, seeking revival of CP (IB) No. 2980/MB/2019. This corporate insolvency resolution process (CIRP) was initially filed under Section 9 of the Code against MnM Marketing Private Limited, the Corporate Debtor, but was dismissed as withdrawn on 18.12.2019 based on consent terms.
Manish Fashionworld Private Limited, the Operational Creditor, filed an application to revive CP (IB) No. 2980/MB/2019 against MnM Marketing Private Limited, the Corporate Debtor. The original CIRP was dismissed on 18.12.2019 based on consent terms. The Operational Creditor claimed that the Corporate Debtor defaulted on payments agreed upon in the consent terms, specifically regarding post-dated cheques. Three post-dated cheques were issued: one for Rs. 10,00,000/- dated 23.01.2020, another for Rs. 11,25,110/- dated 23.02.2020, and a third for Rs. 13,09,790/- dated 28.04.2020. The cheque dated 23.01.2020 was honored, but the Operational Creditor delayed encashment of the other two cheques at the Corporate Debtor's request. These two cheques were ultimately not paid.
…The Corporate Insolvency Resolution Process…
Post-dated cheque for…