K. Anantha Padmanabha Swamy, Member - (1.) Under Consideration is a Company Petition filed by M/s. Vinitha Associates Limited (in short, 'Petitioner/Financial Creditor') against M/s. Vasavi Housing Infrastructure Private Limited (in short, 'Respondent/Corporate Debtor') under section 7 of the Insolvency and Bankruptcy Code 2016 (In short, 'IB Code 2016') r/w. Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for brevity, 'IB Rules 2016').
(2.) Before proceeding with this matter, it would be appropriate to make a note of background facts for the purpose of determination of this petition.
(3.) The Petitioner/OC is a company incorporated under the Companies Act 1956 and carrying on business under the name and style of M/s. Vinitha Associates Limited whereas the Respondent/Cd is a Limited Liability Company incorporated under the provisions of the Companies Act 1956 hand having its registered office at No. 8A, Kandasamy Street, R.A. Puram, Chennai-28.;