There is no provision in the IBC for Corporate Debtor to constitute CoC with a single Operational Creditor – V. Duraisamy IRP of M/s. H G S Diaries and Agro Ltd. Vs. Jeyapriya Fruits and Vegetables Commission Agent – NCLAT Chennai
July 3, 2023
NCLAT there is no provision in the Code for the Corporate Debtor to constitute the CoC with a single Operational Creditor, when it is seen from the record that despite the public announcement being made inviting claims from its stakeholders, the IRP has not received a single claim from the date of initiation of the Corporate Debtor into CIRP. As the CoC itself is not constituted and in the light of the fact that not a single claim was received by the IRP.
