The present petition has been filed by Ravi Luthra & 12 (twelve) Ors.

(hereinafter referred to as ‘Petitioners/Financial Creditors’) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ‘Code’) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to initiate the Corporate Insolvency Resolution Process (‘CIRP’) against Vatika Limited (hereinafter referred to as ‘Respondent/Corporate Debtor’). The petition is signed by Ravi Luthra, with the affidavit verifying the contents of the application, appended thereto. The Power of Attorney in favour of Ravi Luthra has been executed by all the home buyers-petitioners and submitted vide IA No. 249/2021 which was disposed of vide order dated 18.05.2023 of this Adjudicating Authority. The list of Applicants is appended as Annexure-1 to the judgment.

2. The Corporate Debtor is stated to be incorporated on 02.07.1998. The company has its registered address at Vatika Triangle, 4th Floor, Sushant Lok Phase 1, Block A, Mehrauli-Gurgaon Road, Gurgaon, HR-122002. Therefore, the jurisdiction lies with this Bench of the Tribunal. The master data of the corporate d