K. Anantha Padmanabha Swamy, Member - (1.) Under Consideration is a Company Petition filed by M/s. Kasturi and Sons Limited (in short, 'Petitioner/Operational Creditor') against M/s. Kavya Advertising & Marketing 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/OC is a Limited Company incorporated under the Companies Act, 1913, having its registered office at Kasthuri Buildings, No. 859 and 860, Anna Salai, Chennai-600002. Whereas the respondent company, is a private limited company incorporated under the Companies Act, 1956, having its registered office at New No. 55, Old No. 21/1, Parangusapuram Street, Kodambakkam, Chennai-600024. The Respondent Company is engaged in the business of Advertising and marketing, promotion, Public Relations and Ad-film making etc.;