In the matter of Sn Engineering Services Pvt. Ltd. Cp (Ib) No.1152-MB-IV-2020
Case brief
What is this about?
The Tribunal admitted a company petition filed by an operational creditor under Section 9 of the IBC. It held that the debt admitted by the corporate debtor exceeded the one lakh threshold and initiated the Corporate Insolvency Resolution Process.
What did the court decide?
Application admitted; Moratorium declared; IRP appointed; Management vesting with IRP ordered.
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-IV
CP (IB) No.1152/MB-IV/2020
Under Section 9 of the IBC, 2016
In the matter of
WAM INDIA PRIVATE LIMITED
[CIN: U29150MH1998PTC113380]
…Operational Creditor
v/s.
SN ENGINEERING SERVICES PVT. LTD.
[CIN: U45200MH2007PTC167672]
…Corporate Debtor
Order Delivered on: 17.03.2023
Coram:
Issues for consideration
2 issues framed by the court
Whether the company petition under Section 9 of the IBC meets the threshold of financial debt and admits the debt.
Whether the application for initiation of CIRP is maintainable and liable to be admitted.
Parties & counsel
- petitioner
WAM INDIA PRIVATE LIMITED
- respondent
SN ENGINEERING SERVICES PVT. LTD.
Coram
Prabhat Kumar
Case details
As recorded by the court registry
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