Page 553 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
By Hon’ble NCLT Hyderabad Bench

IN THE NATIONAL COMPANY LAW TRIBUNAL
HYDERABAD BENCH

C.P. (I.B.) No. 96/7/NCLT/HDB/2017

Decided On: 08.09.2017

Applicant: M/s. Asset Advisory Services India Pvt. Ltd.
Vs.
Respondent: VSS Projects Pvt. Ltd.

Judges/Coram:
Hon'ble Sh. Rajeswara Rao Vittanala, Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. Surya Satish & Mr. M.Srkanth, Learned Advocates

For Respondents/Defendant: Mr. S.Agasthya Sharma, Learned Advocate

ORDER

Hon'ble Sh. Rajeswara Rao Vittanala, Member (J)

1. This Company petition bearing CP bearing CP (IB) No. 96/7/HDB/2017 is filed by M/s. Asset

Advisory Services India Pvt Ltd. Financial Creditor, U/s 7 of IBC, 2016 R/w Rule 4 of the Insolvency and
Bankruptcy(Application to Adjudicating Authority) Rules, 2016, by seeking to initiate Corporate

Insolvency Resolution Process under IBC against VSS Projects Pvt. Ltd.

2. Brief facts, leading to the filing of present company petition, are as follows:

1) M/s Asset Advisory Services India Pvt Ltd., (CIN U93000A02008PTCO59525) herein after called as
Petitioner/Financial Creditor, is a private limited Company incorporated under the provisions of the
Companies Act, 1956 and it is a "Financial Creditor" within the meaning of Sec 7 of the Code, which

reads as "Financial Creditor means any person to whom a financial debt is owed and includes a person to
whom such debt has been legally assigned or transferred to".

2) The Financial Creditor is engaged in the business of acting as financial advisors and consultants on all

matters relating to assets, finance, investments, insurance, money markets, capital markets, fund
arrangements etc., per its main object in the Memorandum of Association and Articles of Association.

553