K. Anantha Padmanabha Swamy, Member - (1.) Under Consideration is a Company Petition filed by M/s. Kollinal Steels and Alloys Private Limited (in short, Petitioner/Operational Creditor) against M/s. Master Shipyard Private Limited (in short, 'Respondent/Corporate Debtor') under section 9 of the Insolvency and Bankruptcy Code 2016 (In short, 'IB Code 2016') r/w Rule 6 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 is a private Limited Company engaged in the trading in iron and steel etc. whereas the Respondent is engaged in the business of boat and ship building etc.;