The case pertains to the 'Corporate Insolvency Resolution Process' of ‘M/s. ORG Informatics Limited’ (Corporate Debtor). The Committee of Creditors, with Punjab National Bank as the lead bank, decided to move an application for liquidation of the Corporate Debtor. The Resolution Professional was asked to move an application for liquidation under Sections 33 & 34 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, accepted the application via an order dated November 20, 2019. The Resolution Professional was asked to continue as Liquidator.
The 'Corporate Insolvency Resolution Process' was initiated for ‘M/s. ORG Informatics Limited’ (Corporate Debtor). The Committee of Creditors, led by Punjab National Bank, decided to pursue liquidation. An application for liquidation was filed under Sections 33 & 34 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, approved the liquidation via an order dated November 20, 2019. The Resolution Professional was instructed to continue as Liquidator. The Appellant contested the appointment of the Liquidator. The court noted that post-liquidation, the Committee of Creditors' role is limited to that of a claimant, and they lack the authority to seek the Liquidator's removal without specific
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The case pertains to the 'Corporate Insolvency Resolution Process' of ‘M/s. ORG Informatics Limited’ (Corporate Debtor). The Committee of Creditors, with Punjab National Bank as the lead bank, decided to move an application for liquidation of the Corporate Debtor. The Resolution Professional was asked to move an application for liquidation under Sections 33 & 34 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, accepted the application via an order dated November 20, 2019. The Resolution Professional was asked to continue as Liquidator.
The 'Corporate Insolvency Resolution Process' was initiated for ‘M/s. ORG Informatics Limited’ (Corporate Debtor). The Committee of Creditors, led by Punjab National Bank, decided to pursue liquidation. An application for liquidation was filed under Sections 33 & 34 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, approved the liquidation via an order dated November 20, 2019. The Resolution Professional was instructed to continue as Liquidator. The Appellant contested the appointment of the Liquidator. The court noted that post-liquidation, the Committee of Creditors' role is limited to that of a claimant, and they lack the authority to seek the Liquidator's removal without specific
…The Adjudicating Authority (National Company…
The Committee of Creditors of ‘M/s. ORG…
Sign in to view related legal provisions.