This appeal arises from an order passed by the NCLT, Mumbai Bench, regarding a Miscellaneous Application in a Company Petition. The Resolution Professional (RP) of Dunar Foods Ltd. filed the appeal challenging the refusal of the Adjudicating Authority to direct the Directorate of Enforcement (ED) to release provisionally attached assets of the Corporate Debtor.
Dunar Foods Ltd. is engaged in manufacturing, processing, and exporting basmati rice and availed credit facilities from a consortium of banks.
The accounts of Dunar Foods Ltd. were classified as Non-Performing Assets (NPAs) in 2014.
The State Bank of India filed an application under Section 7 of the IBC before the NCLT, Mumbai Bench, which was admitted on 22.12.2017, initiating CIRP against Dunar Foods Ltd.
Mr. Anil Kohli was appointed as the Interim Resolution Professional (IRP).
The Directorate of Enforcement (ED) initiated an investigation under the Prevention of Money Laundering Act, 2002 (PMLA) against M/s PD Agroprocessors Pvt. Ltd., an associate company of Dunar Foods Ltd., and traced alleged tainted funds to the Corporate Debtor.
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Section 7 pe…
NCLT, Mumbai Bench, admitted the insolvency…
This appeal arises from an order passed by the NCLT, Mumbai Bench, regarding a Miscellaneous Application in a Company Petition. The Resolution Professional (RP) of Dunar Foods Ltd. filed the appeal challenging the refusal of the Adjudicating Authority to direct the Directorate of Enforcement (ED) to release provisionally attached assets of the Corporate Debtor.
Dunar Foods Ltd. is engaged in manufacturing, processing, and exporting basmati rice and availed credit facilities from a consortium of banks.
The accounts of Dunar Foods Ltd. were classified as Non-Performing Assets (NPAs) in 2014.
The State Bank of India filed an application under Section 7 of the IBC before the NCLT, Mumbai Bench, which was admitted on 22.12.2017, initiating CIRP against Dunar Foods Ltd.
Mr. Anil Kohli was appointed as the Interim Resolution Professional (IRP).
The Directorate of Enforcement (ED) initiated an investigation under the Prevention of Money Laundering Act, 2002 (PMLA) against M/s PD Agroprocessors Pvt. Ltd., an associate company of Dunar Foods Ltd., and traced alleged tainted funds to the Corporate Debtor.
…Section 7 pe…
NCLT, Mumbai Bench, admitted the insolvency…