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NATIONAL COMPANY LAW TRIBUNAL
Sanjiv Jain, Judicial Member, Venkataraman Subramanium, Technical Member
SVL Limited – Appellant
Versus
Abhiyantha Project Engineering Private Limited – Respondent
| Table of Content |
|---|
| 1. petition filed under section 7 for cirp initiation (Para 1 , 2 , 3 , 4 , 5) |
| 2. petitioner establishes financial debt and default (Para 6 , 7 , 8 , 9) |
| 3. corporate debtor admits debt and default due to distress (Para 10 , 11 , 12 , 13 , 14 , 15 , 16) |
| 4. tribunal verifies debt, default, and clarifications (Para 17 , 18 , 19 , 20) |
| 5. debt and default established; petition admitted (Para 21 , 22 , 23) |
| 6. irp appointed; moratorium declared; cirp initiated (Para 24 , 25 , 26 , 27) |
O R D E R
(Heard Through Hybrid Mode)
1. This petition CP IB 94 CHE 2025 has been filed by SVL Limited as financial creditor on 22.04.2025 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “the Code”) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (hereinafter referred to as “the AAA Rules”) for initiating Corporate Insolvency Resolution Process (hereinafter referred to as “CIRP”) against Abhiyantha Project Engineering Private Limited the Corporate Debtor (CD).
2. Petitioner is a public limited company in Chennai. Corporate Debtor is a limited company having registered office at Chennai and was incorporated on
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