In the matter of Shree Ahuja Properites and Realtors Private Limited C.P. (Ib) No. 663-MB-2022
Case brief
What is this about?
The NCLT admitted an application under Section 7 of the IBC 2016 filed by a Financial Creditor against a Corporate Debtor. Finding the debt established and the default admitted, the Tribunal initiated the CIRP, imposed moratorium, and appointed an Insolvency Professional.
What did the court decide?
Admission of application under Section 7 IBC; Appointment of IRP; Imposition of moratorium; Directions for public announcement and supply of goods.
IN THE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH-IV
C.P. (IB) No. 663/MB/2022
Under Section 7 of the I&B Code, 2016 In the matter of:
Maheshwari Investors Private Limited
[CIN: U67120MH1946PTC004728]
…Financial Creditor/Applicant
V/s
Shree Ahuja Properties & Realtors Private Limited.
[CIN: U45400MH2007PTC172860]
...Corporate Debtor/Respondent
Order Dated: 18.05.2023
Coram: Mr. Prabhat Kumar Mr. Kishore Vemulapalli Hon’ble Member (Technical) Hon’ble Member (Judicial)
Issues for consideration
3 issues framed by the court
Whether the Financial Creditor has established a debt due and unpaid in default to initiate CIRP under Section 7 of IBC.
Whether the petition is maintainable within the limitation period and jurisdiction of the Tribunal.
Whether the initiation of Corporate Insolvency Resolution Process is appropriate given the admission of liability.
Parties & counsel
- applicant
Maheshwari Investors Private Limited
- respondent
Shree Ahuja Properties & Realtors Private Limited
Coram
Prabhat Kumar
Case details
As recorded by the court registry
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