In the matter of M M Agro Ventures Private Limited Cp No.1246-KB-2019
Case brief
What is this about?
The NCLT Kolkata Bench admitted an application under Section 7 of the IBC, 2016 filed by Union Bank of India against M M Agro Ventures Private Limited. The court declared a moratorium under Sections 13 and 14, appointed an Interim Resolution Professional, and directed the initiation of the Corporate Insolvency Resolution Process.
What did the court decide?
Admitted the application under Section 7 IBC 2016; declared moratorium; appointed CA Sonu Jain as IRP; directed deposit of ₹2,00,000 by the applicant.
IN THE NATIONAL COMPANY LAW TRIBUNAL,
KOLKATA BENCH,
KOLKATA
CP No.1246/KB/2019
In the matter of:
An application under 7 of the Insolvency & Bankruptcy Code, 2016. And
In the matter of :
Union Bank of India, having its Head Office at Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021, Maharashtra and its regional office at 8 Lenin Sarani, Kolkata-700013.
… Financial Creditor
Versus
In the matter of:
M M Agro Ventures Private Limited, a company incorporated under the provisions of Companies Act, 1956, having its Registered Office at House No. 6B/26, Tilak Marg, North S.K. Puri Patna, Bihar- 800013.
Issues for consideration
2 issues framed by the court
Whether the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor is maintainable and fit for admi
Whether the requisite conditions under the Code, including default and submission of documents, are duly satisfied by the Financial Creditor.
Parties & counsel
- applicant
Union Bank of India
Coram
Harish Chander Suri
Rajasekhar V.K.
Case details
As recorded by the court registry
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