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Tribunals and CommissionsDivision Bench(2024) 07 NCLT CK 1669

Ms. Bhavya Nayak vs M/s. Sakthi Ganesh Textiles (P) Ltd.

National Company Law Tribunal, Chennai · Decided on 31 July 2024

HON’BLE JUDGES
Sanjiv Jain, Member (Judicial) · Venkataraman Subramaniam, Member (Technical)
RESULT
Disposed Of
CASE NUMBER
CP(IB)/221(CHE)2023

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Judgment

6 paragraphs · 301 words

This application under Section 9 of the Insolvency and Bankruptcy, 2016 (”IBC”) read with Rule 6 of the Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) has been filed by Ms. Bhavya Nayak, Proprietor of M/s. Ranjitha Enterprises hereinafter referred to as “Applicant /Operational Creditor”) against M/s. Sakthi Ganesh Textiles (P) Limited (hereinafter referred to as (“Respondent/Corporate Debtor”) for initiation of Corporate Insolvency Resolution Process (“CIRP”) against the Corporate Debtor.

2.

In the present Application, the Operational Creditor has claimed a sum of Rs.3,45,83,057/- (Three Crores Forty Five Lakhs Eighty Three Thousand and Fifty Seven only) and date of default as 05.10.2022, as due and payable by the Corporate Debtor.

3.

Heard Learned Counsel for the Operational Creditor and perused the documents filed by the parties.

4.

An Application filed under Section 9 of the I&B Code, 2016 by an Operational Creditor in CP/IB/213/CHE/2023 has been admitted by this Authority vide Order dated 31.07.2024 and Corporate Insolvency Resolution Process (CIRP) has been initiated against the Corporate Debtor and one Shri. S. Kangayan, Reg.No. IBBI/IPA-002/IP-N00866/2019-2020/12770, e-mail ID: kangayan.s@gmail.com has been appointed as Interim Resolution Professional (IRP). Under the circumstances, we direct the Operational Creditor to lodge the claim as made in this Application before the said IRP within the time limit as specified under the provisions of the I&B Code, 2016, and upon lodging the claim by the Operational Creditor, the IRP to consider the claim on merits and in accordance with the I&B Code, 2016 and other applicable laws, if any.

5.

The application CP(IB)/221(CHE)2023 is accordingly closed with liberty to the applicant that if the order in CP/IB/213/CHE/2023 is set aside by any of the Appellate Authorities or the matter is settled between the parties, to revive/restore the application.

6.

With the above directions, this Application stands closed.