K. Anantha Padmanabha Swamy, Member - (1.) Under Consideration is a Company Petition filed by M/s. M R Ventures (in short, 'Petitioner/Financial Creditor') against M/s. Royal Splendour Developers 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, TB 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/FC is a Partnership Firm, having its registered office at No. 9, Trevelyan Basin Street, Sowcarpet, Chennai-600079 and carrying on business in finance in the name and style of M/s. M R Ventures whereas the Respondent/CD is a Private Limited Company incorporated under the provisions of the Companies Act 1956 and having its registered office at No.9, Ganapathy Colony, Guindy Industrial Estate, Chennai-600032.;