This case involves two appeals, Company Appeal (AT) (Insolvency) No. 892 of 2021 and Company Appeal (AT) (Insolvency) No. 893 of 2021, filed against a common order dated September 29, 2021, passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench. The initial application for Corporate Insolvency Resolution Process (CIRP) against Primuss Pipes & Tubes Ltd. (Corporate Debtor) was filed by M/s. Ashish Ispat Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application and initiated CIRP on August 4, 2021. Subsequently, on August 25, 2021, the operational creditor (M/s. Ashish Ispat Pvt. Ltd.) and the suspended director of the corporate debtor reached an amicable settlement and
…An application under Section 9 of the Insolvency and Bankruptcy Code, 2016, was filed by M/s. Ashish Ispat Pvt. Ltd. (Appellant) to initiate the Corporate Insolvency Resolution Process (CIRP) against Primuss Pipes & Tubes Ltd. (Corporate Debtor). The Adjudicating Authority admitted this application on August 4, 2021, thereby initiating the CIRP against the Respondent Company. This marked the formal commencement of insolvency proceedings.
…Adjudicating Authority admitted the Section…
Interim Resolution…
This case involves two appeals, Company Appeal (AT) (Insolvency) No. 892 of 2021 and Company Appeal (AT) (Insolvency) No. 893 of 2021, filed against a common order dated September 29, 2021, passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench. The initial application for Corporate Insolvency Resolution Process (CIRP) against Primuss Pipes & Tubes Ltd. (Corporate Debtor) was filed by M/s. Ashish Ispat Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application and initiated CIRP on August 4, 2021. Subsequently, on August 25, 2021, the operational creditor (M/s. Ashish Ispat Pvt. Ltd.) and the suspended director of the corporate debtor reached an amicable settlement and
…An application under Section 9 of the Insolvency and Bankruptcy Code, 2016, was filed by M/s. Ashish Ispat Pvt. Ltd. (Appellant) to initiate the Corporate Insolvency Resolution Process (CIRP) against Primuss Pipes & Tubes Ltd. (Corporate Debtor). The Adjudicating Authority admitted this application on August 4, 2021, thereby initiating the CIRP against the Respondent Company. This marked the formal commencement of insolvency proceedings.
…Adjudicating Authority admitted the Section…
Interim Resolution…