Company Petition IB/53/2021 was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter concerns Sri Lakshmi Venkateswara Traders as the Operational Creditor and SNS Starch Ltd as the Corporate Debtor. The Corporate Debtor has been put into Corporate Insolvency Resolution Process (CIRP) in CP (IB) No.663/9/HDB/2019.
Sri Lakshmi Venkateswara Traders filed a Company Petition (IB/53/2021) against SNS Starch Ltd under Section 9 of the IBC, 2016. SNS Starch Ltd, the Corporate Debtor, is already undergoing Corporate Insolvency Resolution Process (CIRP) under CP (IB) No.663/9/HDB/2019. The operational creditor was not represented in the hearing. The court directed the operational creditor's counsel to approach the Interim Resolution Professional (IRP). The court disposed of the petition with the liberty to the operational creditor to seek restoration of the petition if the company petition is withdrawn under a settlement.
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Company Petition IB/53/2021 was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter concerns Sri Lakshmi Venkateswara Traders as the Operational Creditor and SNS Starch Ltd as the Corporate Debtor. The Corporate Debtor has been put into Corporate Insolvency Resolution Process (CIRP) in CP (IB) No.663/9/HDB/2019.
Sri Lakshmi Venkateswara Traders filed a Company Petition (IB/53/2021) against SNS Starch Ltd under Section 9 of the IBC, 2016. SNS Starch Ltd, the Corporate Debtor, is already undergoing Corporate Insolvency Resolution Process (CIRP) under CP (IB) No.663/9/HDB/2019. The operational creditor was not represented in the hearing. The court directed the operational creditor's counsel to approach the Interim Resolution Professional (IRP). The court disposed of the petition with the liberty to the operational creditor to seek restoration of the petition if the company petition is withdrawn under a settlement.
Hearing held on…
Corporate debtor put…