Mr. Vinay Kushwaha & Ors., as financial creditors, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Unibera Developers Private Limited. However, the Adjudicating Authority noted that a CIRP had already been initiated against the same corporate debtor in another petition, (IB)-505(ND)2022.
Mr. Vinay Kushwaha & Ors. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Unibera Developers Private Limited. The application was filed because Mr. Vinay Kushwaha & Ors. are financial creditors of Unibera Developers Private Limited. The Adjudicating Authority observed that a CIRP had already been initiated against the same corporate debtor, M/s. Unibera Developers Private Limited, in another petition (IB)-505(ND)2022, vide order dated 2023-01-13. Section 11 of the IBC prohibits the initiation of another CIRP against a corporate debtor already undergoing CIRP. The Insolvency Resolution Professional (IRP) for the existing CIRP is Mr. Ashok Kumar Jalan.
Sign in to view the parties.
Mr. Vinay Kushwaha & Ors. filed an application…
CIRP was initiated against M/s. Unibera…
Mr. Vinay Kushwaha & Ors., as financial creditors, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Unibera Developers Private Limited. However, the Adjudicating Authority noted that a CIRP had already been initiated against the same corporate debtor in another petition, (IB)-505(ND)2022.
Mr. Vinay Kushwaha & Ors. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Unibera Developers Private Limited. The application was filed because Mr. Vinay Kushwaha & Ors. are financial creditors of Unibera Developers Private Limited. The Adjudicating Authority observed that a CIRP had already been initiated against the same corporate debtor, M/s. Unibera Developers Private Limited, in another petition (IB)-505(ND)2022, vide order dated 2023-01-13. Section 11 of the IBC prohibits the initiation of another CIRP against a corporate debtor already undergoing CIRP. The Insolvency Resolution Professional (IRP) for the existing CIRP is Mr. Ashok Kumar Jalan.
Mr. Vinay Kushwaha & Ors. filed an application…
CIRP was initiated against M/s. Unibera…