Saravana Distributors vs Prostar Textile Mill Private Limited

Per: R. SUCHARITHA, MEMBER (JUDICIAL)

This is an Application filed by M/s. Saravana Distributors (hereinafter referred to as "Operational Creditor") under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Prostar Textile Mill Private Limited, (hereinafter referred as the "Corporate Debtor") seeking thereof to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor.

Heard Learned Counsel for the Operational Creditor and perused the documents filed by the parties. The Operational Creditor has claimed the total amount of Rs.8,70,328/- as outstanding which is due and payable by the Corporate Debtor. An Application filed under Section 9 of the I&B Code, 2016 by another Operational Creditor in IBA/317/2020 is being admitted by this Authority vide Order dated 11.03.2022 and Corporate Insolvency Resolution Process (CIRP) having been initiated against the Corporate Debtor and one Mr. Elumalai Elangao with Reg.IBBI/IPA-002/IP-N01159/2021-2022/13901 (email id:- elumalaielango15@gmail.com) was 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.

With the above directions, this Application stands closed.