Nagarjuna Fertilizers and Chemicals Ltd is the Corporate Debtor. An application (IA (IBC)/ 1524/2022) was filed in relation to Company Petition (IB/48/2021). The Corporate Debtor was admitted into CIRP on 27.08.2021 via an order in CP(IB) No. 524/9/HDB/2019. This admission order was challenged by the Corporate Debtor before the NCLAT. The NCLAT passed an order on 14.09.2021. An IRP was appointed, who invited claims from creditors but stopped proceedings from 14.09.2021. The Operational Creditor sought to pursue its claim. The Learned Senior Counsel for the Corporate Debtor relied on the ruling in Ashok Kumar Tyagi vs. UCO Bank. ICICI Bank is an Intervenor in the case.

Nagarjuna Fertilizers and Chemicals Ltd is the Corporate Debtor. An application (IA (IBC)/ 1524/2022) was filed in relation to Company Petition (IB/48/2021). The Corporate Debtor was admitted into CIRP on 27.08.2021 via an order in CP(IB) No. 524/9/HDB/2019. This admission order was challenged by the Corporate Debtor before the NCLAT. The NCLAT passed an order on 14.09.2021. An IRP was appointed, who invited claims from creditors but stopped proceedings from 14.09.2021. The Operational Creditor sought to pursue its claim. The Learned Senior Counsel for the Corporate Debtor relied on the ruling in Ashok Kumar Tyagi vs. UCO Bank. ICICI Bank is an Intervenor in the case.