National Company Law Tribunal, Chennai: In an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, a Division Bench of Sanjiv Jain (Judicial Member) and Venkataraman Subramaniam (Technical Member), admitted the Section 7 IBC application and initiated the insolvency proceeding against Corporate Debtor
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The instant matter revolves around an application filed by Canara Bank-Financial Creditor against ARS Energy Pvt. Ltd.-Corporate Debtor seeking to initiate an insolvency proceeding against the Corporate Debtor. The Corporate Debtor, incorporated on 19-09-1990, had availed various financial…
