Page 373 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
Hon’ble NCLT Ahmedabad Bench

IN THE NATIONAL COMPANY LAW TRIBUNAL
AHMEDABAD BENCH

C.P. (I.B.) No. 115/7/NCLT/AHM/2017

Decided On: 19.09.2017

Applicant: V.R. Polyfab Private Limited
Vs.
Respondent: Sadbhav Enterprise Private Limited

Judges/Coram:
Hon'ble Sh. Bikki Raveendra Babu, Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. Harmish Shah, Learned Advocate Advocate

For Respondents/Defendant:Mr. Pavan Godiawala and Mr. Ishan Shah, Learned Advocates

ORDER

Hon'ble Sh. Bikki Raveendra Babu, Member (J)

1. V.R. Polyfab Private Limited, saying itself as 'Financial Creditor', filed this Application under Section

7 of the Insolvency and Bankruptcy Code, 2016 ["IB Code" for short] read with Rule 4 of the Insolvency
and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, ("IB Rules" for short) with a
request to initiate Corporate Insolvency Resolution Process against Sadbhav Enterprise Private Limited

categorising it as 'Corporate Debtor'.

2. Applicant is a Private Limited Company. This Application is signed by Mr. Deepakkumar R. Jain, who
is one of the Directors of the Applicant Company, basing on the Resolution of the applicant Company

dated 5th April, 2017.

3. Respondent Company is a Private Limited Company incorporated under the provisions of the
Companies Act, 1956 having its Registered Office in Ahmedabad. The Paid-up Share Capital of the
Respondent Company is Rs. 12,67,200.

4. It is the case of the Applicant, that Respondent Company approached the Applicant in the year 2014 for
the purpose of Unsecured Loan. Applicant Company has originally advanced a loan for an amount of Rs.

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