Gopal Trading Company (Operational Creditor/Appellant) initiated Corporate Insolvency Resolution Process (CIRP) against Matrushri Fibres Private Limited (Corporate Debtor) by filing a Section 9 application under the Insolvency and Bankruptcy Code, 2016 (IBC), leading to the Corporate Debtor's admission into CIRP on September 25, 2023. Mr. Ravindra Kumar Goyal was appointed Interim Resolution Professional (IRP) and subsequently confirmed as Resolution Professional (RP). The Committee of Creditors (CoC) comprised solely of two government tax departments: Assistant Commissioner of GST and Assistant Commissioner of State Tax, holding 95.01% and 4.99% vote-share respectively. During the CIRP, the RP encountered non-cooperation from the Corporate Debtor's suspended
…Gopal Trading Company (Appellant), an Operational Creditor, filed a Section 9 application under IBC, leading to the admission of Matrushri Fibres Private Limited (Corporate Debtor) into CIRP on 25.09.2023.
Mr. Ravindra Kumar Goyal was appointed Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP) for Matrushri Fibres Private Limited.
The Committee of Creditors (CoC) consisted only of two Operational Creditors: Assistant Commissioner of GST and Assistant Commissioner of State Tax, holding 95.01% and 4.99% vote-share respectively.
The RP initiated contempt proceedings against the Appellant for initial non-deposit of CIRP costs, after which Rs. 2 lakhs was deposited on 29.08.2024.
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Appellant issued a legal notice to the…
The Corporate Debtor, Matrushri Fibres…
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Gopal Trading Company (Operational Creditor/Appellant) initiated Corporate Insolvency Resolution Process (CIRP) against Matrushri Fibres Private Limited (Corporate Debtor) by filing a Section 9 application under the Insolvency and Bankruptcy Code, 2016 (IBC), leading to the Corporate Debtor's admission into CIRP on September 25, 2023. Mr. Ravindra Kumar Goyal was appointed Interim Resolution Professional (IRP) and subsequently confirmed as Resolution Professional (RP). The Committee of Creditors (CoC) comprised solely of two government tax departments: Assistant Commissioner of GST and Assistant Commissioner of State Tax, holding 95.01% and 4.99% vote-share respectively. During the CIRP, the RP encountered non-cooperation from the Corporate Debtor's suspended
…Gopal Trading Company (Appellant), an Operational Creditor, filed a Section 9 application under IBC, leading to the admission of Matrushri Fibres Private Limited (Corporate Debtor) into CIRP on 25.09.2023.
Mr. Ravindra Kumar Goyal was appointed Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP) for Matrushri Fibres Private Limited.
The Committee of Creditors (CoC) consisted only of two Operational Creditors: Assistant Commissioner of GST and Assistant Commissioner of State Tax, holding 95.01% and 4.99% vote-share respectively.
The RP initiated contempt proceedings against the Appellant for initial non-deposit of CIRP costs, after which Rs. 2 lakhs was deposited on 29.08.2024.
…Appellant issued a legal notice to the…
The Corporate Debtor, Matrushri Fibres…
Sign in to view related legal provisions.