In the matter of Vinergy International Private Limited Cp (Ib) No.386-MB-IV-2021
Case brief
What is this about?
The Tribunal admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed by ICICI Bank against Vinergy International. Acknowledging the delay based on earlier consent in High Court proceedings and the corporate debtor's admission of liability, the Bench admitted the petition, declared a moratorium, and appointed an Interim Resolution Professional.
What did the court decide?
Application admitted under Section 7; Moratorium declared u/s 14; Mr. Vishal Bidawatjika appointed as Interim Resolution Professional.
IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-IV
CP (IB) No.386/MB-IV/2021
Under Section 7 of the I&B Code, 2016
In the matter of:
ICICI Bank Limited
[CIN: L65190GJ1994PLC021012]
…Financial Creditor
V/s
Vinergy International Private Limited
[CIN: U24110MH1991PTC059979]
…Corporate Debtor
Order Dated: 09.02.2023
Coram:
Issues for consideration
3 issues framed by the court
Whether the application filed by the financial creditor under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating CIRP against the corporate debtor is maintainable despite the delay i
Whether the debt amount claimed in default satisfies the threshold limit under the Code.
Whether the moratorium under Section 14 of the Code must be declared once the application is admitted.
Parties & counsel
- applicant
ICICI Bank Limited
Coram
Manoj Kumar Dubey
Kishore Vemulapalli
Case details
As recorded by the court registry
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