In the matter of Mudra Denim Pvt. Ltd. C.P. 4356-IB-MB-2019
Case brief
What is this about?
The NCLT admitted the operational creditor's company petition filed under Section 9 of the IBC, 2016, for default in payment. Finding the respondent unopposed, the Bench ordered the initiation of CIRP against M/s Mudra Denim Pvt. Ltd. and appointed an interim resolution professional.
What did the court decide?
Petition admitted; CIRP initiated against Corporate Debtor; IRP appointed; Moratorium imposed under Section 14; Applicant directed to deposit CIRP costs.
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 NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH, COURT- V
C.P. 4356/IB/MB/2019
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 Jayprabhu Industries LLP.
Survey no. 80,79/P, Opp. B.Ed. College, At & Post – Pilwai, TalukaVijapur, Mehesana, Gujarat -382 870
….. Operational Creditor
Vs
M/s Mudra Denim Pvt. Ltd.
Wellington Business Park, Building No. 2, Gala no. 305, Andheri Kurla Road, Andheri (East), Mumbai City, Maharashtra – 400 099
….. Corporate Debtor
Issues for consideration
2 issues framed by the court
Whether the company petition filed under Section 9 of the Code satisfies the legal requirements for admission of the application initiating CIRP.
Whether the debt and default committed by the corporate debtor are unchallenged given the respondent's failure to file a reply.
Parties & counsel
- applicant
M/s Jayprabhu Industries LLP
Coram
H.V. Subba Rao
Anuradha Sanjay Bhatia
Case details
As recorded by the court registry
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