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Judgment
Per: Dr. Ashok Kumar Mishra, Member (Technical)
C.P. (IB) No.257/BB/2019 is filed by M/s. Kotak Mahindra Bank Limited (hereinafter referred to as ‘Petitioner/Financial Creditor’) under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/s.SA Rawther Spices Pvt. Ltd. (hereinafter referred to as 'Respondent/Corporate Debtor') on the ground that it has committed default for a total amount of Rs.7,72,85,752.37/- (Rupees Seven Crore Seventy Two Lakhs Eighty Five Thousand Seven Hundred Fifty Two and Thirty Seven Paise Only) as on 09.05.2019 and in individual loan default as on 09.05.2019 is Rs.1,49,86,052.30/- (Rupees One Crore Forty Nine Lakhs Eighty Six Thousand Fifty Two and Thirty Paise Only).
The case was listed for admission on various dates viz., 04.07.2019, 19.07.2019 and 07.08.2019. The case stands adjourned on those dates due to various reasons at the request of the parties on one ground or the other.
Heard Shri V.B. Ravi Shankar, learned Counsel for the Petitioner and Shri N.Suresha, learned Counsel for the Respondent. We have carefully considered the pleadings of both the parties and extant provisions of the Code.
Since this Adjudicating Authority has admitted C.P. (IB) No.159/BB/2019 vide order dated 21.08.2019 by initiating the CIRP and appointed Ms.Subramaniam Aneetha having Registration No.IBBI/IPA-001/IP-P00376/2017-18/10633 as the Interim Resolution Professional, moratorium etc., in respect of the same Corporate Debtor namely M/s.SA Rawther Spices Private Limited, the instant Company Petition is not maintainable. Therefore, the Petitioner can approach the IRP appointed in C.P. (IB) No.159/BB/2019 for its claim in respect of the Corporate Debtor herein.
In the result, C.P (IB) No.257/BB/2019 is disposed of by permitting the Petitioner to make its claim before Ms.Subramaniam Aneetha, IRP appointed in C.P. (IB) No.159/BB/2019 vide order dated 21.08.2019, within a period of two weeks from the date of receipt of copy of the order and thereafter, the IRP is directed to consider the claim of the Petitioner, in accordance with law and communicate her decision to the Petitioner immediately thereafter. No order as to costs.