The case involves a writ petition filed by Technovaa Plastic Industries Pvt. Ltd. against the Assistant Commissioner of Income Tax and others, challenging demand notices issued by the respondents for a period prior to 04.09.2020. The petitioner had undergone Corporate Insolvency Resolution Process (CIRP) initiated by Rassendra Chem Export Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The National Company Law Tribunal (NCLT) admitted the application on 12.11.2018, imposed a moratorium, and initiated CIRP. A resolution plan submitted by Kankriya Enterprises Private Limited was approved by the Committee of Creditors (CoC) and subsequently by the NCLT on 04.09.2020. The petitioner contends that the demand
…Technovaa Plastic Industries Pvt. Ltd. (the Petitioner) is engaged in the business of manufacturing plastic film. Rassendra Chem Export Private Limited, acting as an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against the Petitioner by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The National Company Law Tribunal (NCLT) admitted the application on 12.11.2018, imposed a moratorium, and initiated CIRP. Mr. Narayan Gajanan Vidvan was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vijay P. Lulla as the Resolution Professional (RP). The RP issued an invitation for Expression of Interest (EOI), and a resolution plan submitted by Kankriya Enterprises Private Limited
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The NCLT admitted the application filed by…
The Committee of Creditors (CoC) was…
The case involves a writ petition filed by Technovaa Plastic Industries Pvt. Ltd. against the Assistant Commissioner of Income Tax and others, challenging demand notices issued by the respondents for a period prior to 04.09.2020. The petitioner had undergone Corporate Insolvency Resolution Process (CIRP) initiated by Rassendra Chem Export Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The National Company Law Tribunal (NCLT) admitted the application on 12.11.2018, imposed a moratorium, and initiated CIRP. A resolution plan submitted by Kankriya Enterprises Private Limited was approved by the Committee of Creditors (CoC) and subsequently by the NCLT on 04.09.2020. The petitioner contends that the demand
…Technovaa Plastic Industries Pvt. Ltd. (the Petitioner) is engaged in the business of manufacturing plastic film. Rassendra Chem Export Private Limited, acting as an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against the Petitioner by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The National Company Law Tribunal (NCLT) admitted the application on 12.11.2018, imposed a moratorium, and initiated CIRP. Mr. Narayan Gajanan Vidvan was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vijay P. Lulla as the Resolution Professional (RP). The RP issued an invitation for Expression of Interest (EOI), and a resolution plan submitted by Kankriya Enterprises Private Limited
…The NCLT admitted the application filed by…
The Committee of Creditors (CoC) was…