In the matter of Greatwall Corporate Service Private Limited Cp No. 73(IB)-MB-V-2021
Case brief
What is this about?
The National Company Law Tribunal admitted a bankruptcy petition filed by Nagpur Nagarik Sahakari Bank Ltd. against M/s Greatwall Corporate Service Private Limited for default in repaying secured cash credit dues, initiating the Corporate Insolvency Resolution Process.
What did the court decide?
Admitted Company Petition No. 73/(IB)-MB-V/2021 initiating CIRP; Appointed Mr. Atul Rajwadkar as Interim Resolution Professional; Declared moratorium under Section 14.
IN THE NATIONAL COMPANY LAW TRIBUNAL
COURT NO. V, MUMBAI BENCH
CP No. 73/(IB)-MB-V/2021
Under Section 7 of the Insolvency and Bankruptcy Code, 2016 r.w. Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016
In the matter of
Nagpur Nagarik Sahakari Bank Ltd.
Having its Registered Office at: 79, Dr. Ambedkar Chowk, Central Avenue, Maharashtra, Nagpur- 440008
…. Petitioner/ Financial Creditor
Vs.
M/s Greatwall Corporate Service
Private Limited
Having its Registered Office at:
Issues for consideration
3 issues framed by the court
Whether the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 admits existence of financial debt and default.
Whether the Corporate Debtor is liable for payment of outstanding dues to the Financial Creditor.
Whether the motion for admission of the Corporate Insolvency Resolution Process (CIRP) petition deserves acceptance.
Parties & counsel
- petitioner
Nagpur Nagarik Sahakari Bank Ltd.
- respondent
M/s Greatwall Corporate Service Private Limited
Coram
Suchitra Kanuparthi
Case details
As recorded by the court registry
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