The case involves an application (IA No.1214/2020) in a corporate insolvency resolution process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was filed by Sri Sai Traders, the operational creditor, against SNS Starch Ltd, the corporate debtor. The corporate debtor has already been admitted into CIRP under CP(IB) No.663/9/HDB/2019.
Sri Sai Traders, the operational creditor, filed CP(IB) No.685/9/HDB/2019 against SNS Starch Ltd, the corporate debtor, under Section 9 of the IBC, 2016. The corporate debtor is already undergoing CIRP under CP(IB) No.663/9/HDB/2019, which was admitted on 22.03.2022. The Learned Counsel for the operational creditor is directed to approach the Interim Resolution Professional (IRP). The court disposed of CP (IB) No.685/9/HDB/2019, granting the operational creditor the liberty to seek restoration of the petition if the operational creditor in CP No.663/9/HDB/2019 withdraws the company petition under a settlement.
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Corporate debtor put…
The case involves an application (IA No.1214/2020) in a corporate insolvency resolution process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was filed by Sri Sai Traders, the operational creditor, against SNS Starch Ltd, the corporate debtor. The corporate debtor has already been admitted into CIRP under CP(IB) No.663/9/HDB/2019.
Sri Sai Traders, the operational creditor, filed CP(IB) No.685/9/HDB/2019 against SNS Starch Ltd, the corporate debtor, under Section 9 of the IBC, 2016. The corporate debtor is already undergoing CIRP under CP(IB) No.663/9/HDB/2019, which was admitted on 22.03.2022. The Learned Counsel for the operational creditor is directed to approach the Interim Resolution Professional (IRP). The court disposed of CP (IB) No.685/9/HDB/2019, granting the operational creditor the liberty to seek restoration of the petition if the operational creditor in CP No.663/9/HDB/2019 withdraws the company petition under a settlement.
Hearing held on…
Corporate debtor put…