IN RE Vs. VARDHMAN INDUSTRIES LIMITED

JUDGEMENT

(1.) This is an application filed under section 10 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') read with rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity 'the Rules') for initiation of Corporate Insolvency process in respect of M/s Vardhman Industries Limited, the Corporate Debtor being the corporate applicant itself.

(2.) The application was fixed for hearing for the first time on 25.08.2017, when notice was directed to be served to the financial creditors i.e. State Bank of India, IDBI Bank and M.N Chemicals as stated in the application annexed as Annexure "A-5".

(3.) The applicant has filed affidavit of proof of service on 08.07.2017, interalia affirming that notice of hearing has been duly served upon the financial creditors and also via speed post on 31.08.2017,The matter was finally heard on 27.10.2017.