In the matter of Tripurari Properties Private Limited C.P. (I.B) No. 286-KB-2022
Case brief
What is this about?
In this application under section 10 of the Insolvency and Bankruptcy Code, 2016, the Tribunal admitted the petition filed by Tripurari Properties Private Limited for itself due to admitted debt default exceeding the statutory threshold. The Court initiated the Corporate Insolvency Resolution Process (CIRP).
What did the court decide?
Application admitted and CIRP initiated against Tripurari Properties Private Limited with appointment of IRP and imposition of moratorium.
IN THE NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCH (Court No. II) KOLKATA
C.P. (I.B) No. 286/KB/2022
A Petition under section 10 of the Insolvency and Bankruptcy Code, 2016 read with rule 7 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons), Regulations 2016.
In the matter of:
Tripurari Properties Private Limited
(CIN: U70109WB2008PTC125328) Having its registered office at: - 4, Dr. Rajendra Prasad Sarani, 3rd Floor, Room No. 303, Kolkata 700001, West Bengal
…Corporate Applicant
Coram: Smt. Bidisha Banerjee : Member (Judicial) Shri Balraj Joshi : Member (Technical)
Order pronounced on: 18th April 2023
Appearances (through video conference/physical hearing)
For Corporate Applicant;
Issues for consideration
2 issues framed by the court
Whether the petition filed by the Corporate Applicant under section 10 of the IBC fulfills the mandatory requirements for initiation of CIRP.
Whether the default amount exceeds the threshold stipulated under section 4(1) of the Code.
Parties & counsel
- applicant
Tripurari Properties Private Limited
Coram
Bidisha Banerjee
Balraj Joshi
Case details
As recorded by the court registry
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