The case involves a company petition filed before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, it was brought to the notice of the Bench that the Corporate Debtor was already undergoing Corporate Insolvency Resolution Process (CIRP) before Court-II in another Company Petition bearing no. 862 of 2019, with an admission order dated 30.09.2022.
Asset Reconstruction Company (India) Limited filed a company petition against Vijay Group Housing Private Limited. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the hearing, the NCLT was informed that Vijay Group Housing Private Limited was already undergoing CIRP in another company petition (no. 862 of 2019) before Court-II, with an admission order dated 30.09.2022. The counsels for both sides were present during the virtual hearing. The fact that CIRP was already ongoing was crucial to the decision of the court.
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Hearing of the Mumbai…
Admission order dated 30.09.2022 for Company…
The case involves a company petition filed before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, it was brought to the notice of the Bench that the Corporate Debtor was already undergoing Corporate Insolvency Resolution Process (CIRP) before Court-II in another Company Petition bearing no. 862 of 2019, with an admission order dated 30.09.2022.
Asset Reconstruction Company (India) Limited filed a company petition against Vijay Group Housing Private Limited. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the hearing, the NCLT was informed that Vijay Group Housing Private Limited was already undergoing CIRP in another company petition (no. 862 of 2019) before Court-II, with an admission order dated 30.09.2022. The counsels for both sides were present during the virtual hearing. The fact that CIRP was already ongoing was crucial to the decision of the court.
Hearing of the Mumbai…
Admission order dated 30.09.2022 for Company…