The case involves a Section 7 petition under the Insolvency and Bankruptcy Code, 2016 filed by Ambica Enclave Private Limited against Proplarity Infrastructure Private Limited for initiating CIRP . The petition was filed due to alleged debt and default by the Corporate Debtor, which had previously been involved in similar insolvency proceedings.
Ambica Enclave Private Limited, the Petitioner/Financial Creditor, filed a Section 7 petition under the Insolvency and Bankruptcy Code, 2016 against Proplarity Infrastructure Private Limited, the Respondent/Corporate Debtor. Notice was issued on April 22, 2024. Despite the notice, the Respondent did not appear on May 1, 2024, leading the Tribunal to grant another opportunity for appearance and reply, listing the matter for May 8, 2024. On May 8, 2024, the Tribunal noted that the address of the Corporate Debtor in the affidavit of service was incomplete. The Petitioner was directed to serve a fresh notice with the full address, and the matter was relisted for July 2, 2024. A fresh affidavit of service was filed on June 19, 2024, indicating that service via speed post to
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Notice was ordered to…
Despite notic…
The case involves a Section 7 petition under the Insolvency and Bankruptcy Code, 2016 filed by Ambica Enclave Private Limited against Proplarity Infrastructure Private Limited for initiating CIRP . The petition was filed due to alleged debt and default by the Corporate Debtor, which had previously been involved in similar insolvency proceedings.
Ambica Enclave Private Limited, the Petitioner/Financial Creditor, filed a Section 7 petition under the Insolvency and Bankruptcy Code, 2016 against Proplarity Infrastructure Private Limited, the Respondent/Corporate Debtor. Notice was issued on April 22, 2024. Despite the notice, the Respondent did not appear on May 1, 2024, leading the Tribunal to grant another opportunity for appearance and reply, listing the matter for May 8, 2024. On May 8, 2024, the Tribunal noted that the address of the Corporate Debtor in the affidavit of service was incomplete. The Petitioner was directed to serve a fresh notice with the full address, and the matter was relisted for July 2, 2024. A fresh affidavit of service was filed on June 19, 2024, indicating that service via speed post to
…Notice was ordered to…
Despite notic…