In the matter of Blue Blends (India) Limited C.P. No. 1896-IBC-MB-2018
Case brief
What is this about?
The NCLT admitted the Company Petition under Section 9 of the IBC, 2016 filed by M/s Sarla Performance Fibres Limited against M/s Blue Blends (India) Limited. The court appointed an Interim Resolution Professional and directed the imposition of moratorium and other statutory reliefs.
What did the court decide?
Admission of Company Petition and initiation of CIRP against the Corporate Debtor; Appointment of Interim Resolution Professional.
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 TRIBUNAL,
MUMBAI BENCH, COURT - II
C.P. No. 1896/IBC/MB/2018
Under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rule 2016)
In the matter of M/s Sarla Performance Fibres Limited (L31909DN1993PLC000056)
Having its office at: 304, Arcadia, 195, Nariman Point, Mumbai – 400021. ……Operational Creditor
Vs
M/s Blue Blends (India) Limited (L17120MH1981PLC023900)
Having its Registered Office at : JBF House, 2nd Floor, Old Post Office Lane, Kalbadevi Road, Mumbai – 400002.
..…..Corporate Debtor
Order delivered on:- 02.12.2021
Issues for consideration
2 issues framed by the court
Whether the Company Petition satisfies the conditions for admission of Corporate Insolvency Resolution Process under Section 9 of the Code.
What are the appropriate order directions upon admission of the petition including appointment of Interim Resolution Professional and moratorium effects.
Parties & counsel
- applicant
M/s Sarla Performance Fibres Limited
Coram
Shyam Babu Gautam
Justice P.N. Deshmukh
Case details
As recorded by the court registry
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