The appeals were filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 against the order dated 25.02.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench). The appeals challenge the impugned order related to the Corporate Insolvency Resolution Process (CIRP) of Amrit Hatcheries Pvt. Ltd. initiated by an Operational Creditor (Mangturam Noranglal) under Section 9 of the Code. The CIRP was initiated on 20.08.2019, and an Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP). Punjab National Bank (PNB) held 83% of the voting share in the Committee of Creditors (CoC). PNB had advanced credit facilities to the Corporate Debtor (CD) and mortgaged two properties, 'Howrah Property'
…Mangturam Noranglal, an Operational Creditor, initiated CIRP against Amrit Hatcheries Pvt. Ltd. on 20.08.2019. Khetan Mukhija was appointed as IRP, later replaced by Arun Kumar Gupta. Punjab National Bank (PNB) held 83% of the voting share in the CoC. PNB had advanced credit facilities to Amrit Hatcheries and secured them with mortgages on 'Howrah Property' and 'Bankura Property'. PNB issued e-auction sale notices for both properties in July 2019. Haldiram Incorporation Pvt. Ltd. was the highest bidder for Howrah Property on 06.07.2019, and Skylark Feed Pvt. Ltd. was the highest bidder for Bankura Property on 17.08.2019. Sale certificates were issued for both properties in August/September 2019. The DRT passed an order on 05.07.2019 stating that the fate of the sale
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The appeals were filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 against the order dated 25.02.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench). The appeals challenge the impugned order related to the Corporate Insolvency Resolution Process (CIRP) of Amrit Hatcheries Pvt. Ltd. initiated by an Operational Creditor (Mangturam Noranglal) under Section 9 of the Code. The CIRP was initiated on 20.08.2019, and an Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP). Punjab National Bank (PNB) held 83% of the voting share in the Committee of Creditors (CoC). PNB had advanced credit facilities to the Corporate Debtor (CD) and mortgaged two properties, 'Howrah Property'
…Mangturam Noranglal, an Operational Creditor, initiated CIRP against Amrit Hatcheries Pvt. Ltd. on 20.08.2019. Khetan Mukhija was appointed as IRP, later replaced by Arun Kumar Gupta. Punjab National Bank (PNB) held 83% of the voting share in the CoC. PNB had advanced credit facilities to Amrit Hatcheries and secured them with mortgages on 'Howrah Property' and 'Bankura Property'. PNB issued e-auction sale notices for both properties in July 2019. Haldiram Incorporation Pvt. Ltd. was the highest bidder for Howrah Property on 06.07.2019, and Skylark Feed Pvt. Ltd. was the highest bidder for Bankura Property on 17.08.2019. Sale certificates were issued for both properties in August/September 2019. The DRT passed an order on 05.07.2019 stating that the fate of the sale
…E-Auction date -…
Confirmation…