The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Ms. Bhavya Nayak, Proprietor of M/s. Ranjitha Enterprises (Operational Creditor), against M/s. Sakthi Ganesh Textiles (P) Limited (Corporate Debtor), for initiation of the Corporate Insolvency Resolution Process (CIRP). An earlier application (CP/IB/213/CHE/2023) filed by an Operational Creditor against the same Corporate Debtor had already been admitted, and CIRP had been initiated.
Ms. Bhavya Nayak, Proprietor of M/s. Ranjitha Enterprises, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Sakthi Ganesh Textiles (P) Limited, seeking to initiate CIRP. The Operational Creditor claimed an amount of Rs.3,45,83,057/- with a default date of 2022-10-05. Prior to this application, another application (CP/IB/213/CHE/2023) filed by a different Operational Creditor against M/s. Sakthi Ganesh Textiles (P) Limited had already been admitted, and CIRP had been initiated. Shri. S. Kangayan was appointed as the Interim Resolution Professional (IRP) in the earlier CIRP. The key fact is that CIRP was already in progress when this application was filed.
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The Operational…
An application CP/IB/213/CHE/2023 was filed…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Ms. Bhavya Nayak, Proprietor of M/s. Ranjitha Enterprises (Operational Creditor), against M/s. Sakthi Ganesh Textiles (P) Limited (Corporate Debtor), for initiation of the Corporate Insolvency Resolution Process (CIRP). An earlier application (CP/IB/213/CHE/2023) filed by an Operational Creditor against the same Corporate Debtor had already been admitted, and CIRP had been initiated.
Ms. Bhavya Nayak, Proprietor of M/s. Ranjitha Enterprises, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Sakthi Ganesh Textiles (P) Limited, seeking to initiate CIRP. The Operational Creditor claimed an amount of Rs.3,45,83,057/- with a default date of 2022-10-05. Prior to this application, another application (CP/IB/213/CHE/2023) filed by a different Operational Creditor against M/s. Sakthi Ganesh Textiles (P) Limited had already been admitted, and CIRP had been initiated. Shri. S. Kangayan was appointed as the Interim Resolution Professional (IRP) in the earlier CIRP. The key fact is that CIRP was already in progress when this application was filed.
The Operational…
An application CP/IB/213/CHE/2023 was filed…