In the matter of Vistar Metal Industries Pvt. Ltd. Cp (Ib) 1331-MB-2017
Case brief
What is this about?
This is a Company Petition under Section 7 of the I&B Code, 2016 filed by three financial creditors to initiate CIRP against Vistar Metal Industries for a loan default of Rs. 2.01 crore.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE NATIONAL COMPANY LAW TIUBUNAL MUMBAI BENCH
CP (IB) 1331/MB/2017 Under Section 7 or the l&B Code, 2016 ln the motter of SATYAPRAKJ\SH AGARWAL and ors,
••• Flnancial Oeditor
v/s. VlSTII.R METAL 1NDUSTRIE5 PVT.LTI>, ,.,corporate-Debtor
Order Delivered on 14.10,2019
Carom: Hon'ble Member (Judicial) Mr. V.P. Singh Ho.n'ble Member (Technlc;at)' Mr. R.aJesh Sha rm•
For the Applicant: None Present. For the Respondent: l!,dv. D!1<.snat Mehl a,
Per Rajesh Sharma, Member (Technlca/J
QRl2£B
1. It ts a Company Petition being CP (IB) No,1331/MB/2017 filed o/s 7 of Insolvency.& Bankruptcy Code, 2016 by t�ree Financial Creditors Mr, Satyaprakash Agarwal, Mr, Rlshl Aggarwal and Mr, Kamlesh against Vlstar Metal Industries Private Limited, the �rporate Debtor seeko/lg Initiation of Coreorate· Insolvency Resolution Process against the Corporate Debtor claiming a default of �s.2,0i,ll.0,000/ (Ru('"ees Two Crore One Lakh Only) (lndt.odlng interest) towards the repayment or loan. amount.
Issues for consideration
2 issues framed by the court
Whether to initiate Corporate Insolvency Resolution Process against the corporate debtor.
Validity of the default claim of Rs. 2,01,11,000 by the financial creditors.
Parties & counsel
- appellant
Satyaprakash Agarwal and ors
- respondent
Vistar Metal Industries Pvt. Ltd.
Coram
V.P. Singh
Case details
As recorded by the court registry
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