In the matter of Hollywood Opticians Private Limited
- CitationCP(IB) No. 1567/MB/C/IV/2019
Ratio decidendi
The rule this decision rests on
The petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 is dismissed as infructuous where, in a separate proceeding against the same corporate debtor, the Adjudicating Authority has already admitted an insolvency petition and initiated the Corporate Insolvency Resolution Process; the operational creditor's remedy is to file its claim before the Interim Resolution Professional or Resolution Professional appointed in that process, and delay in filing such claim is condoned.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Coram: Mr. Rajasekhar V. K. : Hon’ble Member (Judicial) Mr. Ravikumar Duraisamy : Hon’ble Member (Technical) Appearances: For the Operational Creditor : Mr Mehul Rathod, Advocate For the Corporate Debtor : Mr J Ramgopal, i/b KaleyanteyLaw Firm, Advocate ORDER Per: Rajasekhar V. K. Member (Judicial) 1. This is a Company Petition filed under section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Eternity Lifestyle Private Limited(Operational Creditor), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Hollywood Opticians Private Limited [CIN: U33201MH2012PTC235473] (Corporate
MUMBAI BENCH-IV CP (IB) No.1567/MB/C-IV/2019 Debtor), on the ground that the Corporate Debtor failed to make payment of a sum of ₹26,50,000/- (Rupees twenty-six lakh and fifty thousand only) as principal amount.
2. Vide orderdated 28.04.2020 in CP (IB) No.1571/2019, this Adjudicating Authority has already initiated CIRP against the Corporate DebtorMr Balkrishan Sharma, Registration No.IBBI/IPA-002/IP-N00045/2016-2017/10084, having address at Flat No.302, Om Apartment (3rdFloor), Plot No. 667 & 670, Sector- 20, Nerul (W), Navi Mumbai, 400 706 [email: balkrishanassociates@gmail.com, Mobile: 8879804637]has been appointed as the IRP in the matter.
3. The present petition has, therefore, become infructuous and the same is hereby dismissed. Liberty is, however, granted to the Operational Creditor to file its claim before the IRP/RP appointed in the matter. Delay, if any, in filing the claim with the IRP/RP is hereby condoned.
4. Ordered accordingly. File be consigned to the record.
Sd/- Sd/- Ravikumar Duraisamy Rajasekhar V. K. Member (Technical) Member-(Judicial) 10.06.2020
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