The case involves a company petition/application with multiple IA numbers, including IA No.1124/2019, IA No.276,277,1120&1230/2020, and IA (IBC)/410/2021 in CP (IB) No.154/7/HDB/2019. The hearing was conducted via video conference. The corporate debtor is Sai Rayalaseema Paper Mills Ltd, with Oriental Bank of Commerce as the petitioner and Sai Rayalaseema Paper Mills Ltd as the respondent. The application was filed under Section 7 of the IBC.
The case involves Sai Rayalaseema Paper Mills Ltd as the corporate debtor. Oriental Bank of Commerce filed a petition against the corporate debtor under Section 7 of the IBC. Several IAs were filed in connection with the CP(IB) No.154/7/HDB/2019. The Hon'ble High Court of Telangana passed an order dismissing CP(IB) No.2987 & 2553/2019. Subsequently, the Promoter filed a memo stating that the matter is no longer on record. This led the NCLT to dismiss CP(IB) No. 154/7/HDB/2019, aligning with the High Court's directions. The key fact is the High Court's dismissal of related proceedings, which directly influenced the NCLT's decision.
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Hearing held on…
Order passed by the Hon'ble High Court of…
The case involves a company petition/application with multiple IA numbers, including IA No.1124/2019, IA No.276,277,1120&1230/2020, and IA (IBC)/410/2021 in CP (IB) No.154/7/HDB/2019. The hearing was conducted via video conference. The corporate debtor is Sai Rayalaseema Paper Mills Ltd, with Oriental Bank of Commerce as the petitioner and Sai Rayalaseema Paper Mills Ltd as the respondent. The application was filed under Section 7 of the IBC.
The case involves Sai Rayalaseema Paper Mills Ltd as the corporate debtor. Oriental Bank of Commerce filed a petition against the corporate debtor under Section 7 of the IBC. Several IAs were filed in connection with the CP(IB) No.154/7/HDB/2019. The Hon'ble High Court of Telangana passed an order dismissing CP(IB) No.2987 & 2553/2019. Subsequently, the Promoter filed a memo stating that the matter is no longer on record. This led the NCLT to dismiss CP(IB) No. 154/7/HDB/2019, aligning with the High Court's directions. The key fact is the High Court's dismissal of related proceedings, which directly influenced the NCLT's decision.
Hearing held on…
Order passed by the Hon'ble High Court of…