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IA No. 159/2022
IA No. 159/2022 has been filed for substitution of Financial Creditor on the basis of assignment agreement dated 30th September 2021 entered between erstwhile Commercial Creditor, Indiabulls Commercial Credit Limited with the newly substituted Financial Creditor M/s Edelweiss Asset Reconstruction Company Limited.
It is submitted by Sh. Raghav Dwivedi Advocate that he is representing both the companies and Mr. Rahul Agarwal learned counsel for the Corporate Debtor has no objection if the substitution is allowed.
Keeping in view the submission made by learned counsel for parties and in view of the assignment agreement dated 30th September 2021, the applicant Edelweiss Asset
Reconstruction Company Limited is allowed to be substituted as Financial Creditor in place of Indiabulls Commercial Credit Limited and henceforth, the substituted Financial Creditor is permitted to pursue the present petition under Section 7 IBC.
Thus, the application IA No. 159/2022 is allowed and disposed of accordingly.
Amended memo of parties which is placed on page No. 56 of the application is ordered to be placed on record of the main petition.
Pleading are stated to be complete in the petition. Let the short written submission be filed within two weeks with relevant case law(s), by exchanging copies with each other.
Let the matter be listed on 14th September 2022.