2023 (7) TMI 1483 - Tri - IBC

Admission of Corporate Debtor into Corporate Insolvency Resolution Process - imposition of moratorium - HELD THAT - In the event the claim is settled between the parties or the order therein is set aside, the Operational Creditor, is at liberty to approach this court for revival of its claim as per the provisions of the code. With these observations this CP is disposed of.

Summary

The National Company Law Tribunal, Hyderabad admitted the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) and imposed a moratorium. The Operational Creditor can approach the Insolvency Resolution Professional (IRP) regarding its claim under the Insolvency and Bankruptcy Code. If the claim is settled or the order is set aside, the Operational Creditor can seek revival of its claim in court. The Company Petition is disposed of with no costs.