Indian Overseas Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Srabani Construction Private Limited (Corporate Debtor). The case was registered as C.P (IB) No. 199/CB/2020. Prior to this, Indian Overseas Bank had filed another petition, C.P (IB) No. 145/CTB/2019, against the same Srabani Construction Private Limited, which was admitted by the court on 2022-04-21. Given the admission of the earlier petition, the court considered the subsequent petition, C.P (IB) No. 199/CB/2020, as infructuous. The relevance of the admission of the prior petition is that it triggers the insolvency resolution process, making any subsequent petitions by the same creditor against the same debtor redundant.

Indian Overseas Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Srabani Construction Private Limited (Corporate Debtor). The case was registered as C.P (IB) No. 199/CB/2020. Prior to this, Indian Overseas Bank had filed another petition, C.P (IB) No. 145/CTB/2019, against the same Srabani Construction Private Limited, which was admitted by the court on 2022-04-21. Given the admission of the earlier petition, the court considered the subsequent petition, C.P (IB) No. 199/CB/2020, as infructuous. The relevance of the admission of the prior petition is that it triggers the insolvency resolution process, making any subsequent petitions by the same creditor against the same debtor redundant.