The case pertains to IA 210 of 2020 in CP(IB) 143 of 2017 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The Resolution Professional of the Corporate Debtor, Accord Industries Limited, sought an order for the liquidation of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated 26.07.2019. The application for CIRP was filed under Section 7 of the Insolvency and Bankruptcy Code by the Financial Creditor, Canbank Factors Limited. The IRP/RP was appointed and made a public announcement on 09.09.2019. Meetings of the Committee of Creditors (CoC) were held, but the Information Memorandum was not prepared due to incomplete information from the Suspended Board of Directors. The CoC
…The Corporate Debtor, Accord Industries Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Canbank Factors Limited. The CIRP was initiated vide order dated 26.07.2019. An Interim Resolution Professional (IRP)/Resolution Professional (RP) was appointed, who made a public announcement on 09.09.2019. Meetings of the Committee of Creditors (CoC) were convened, but an Information Memorandum could not be prepared due to incomplete information provided by the Suspended Board of Directors. The CoC rejected the proposal for extending the CIRP period. The assets of the company were mortgaged/hypothecated to Indian Overseas Bank and had been taken into possession
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The Corporate Debtor was admitted in Corporate…
Order was passed to admit the Corporate…
The case pertains to IA 210 of 2020 in CP(IB) 143 of 2017 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The Resolution Professional of the Corporate Debtor, Accord Industries Limited, sought an order for the liquidation of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated 26.07.2019. The application for CIRP was filed under Section 7 of the Insolvency and Bankruptcy Code by the Financial Creditor, Canbank Factors Limited. The IRP/RP was appointed and made a public announcement on 09.09.2019. Meetings of the Committee of Creditors (CoC) were held, but the Information Memorandum was not prepared due to incomplete information from the Suspended Board of Directors. The CoC
…The Corporate Debtor, Accord Industries Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Canbank Factors Limited. The CIRP was initiated vide order dated 26.07.2019. An Interim Resolution Professional (IRP)/Resolution Professional (RP) was appointed, who made a public announcement on 09.09.2019. Meetings of the Committee of Creditors (CoC) were convened, but an Information Memorandum could not be prepared due to incomplete information provided by the Suspended Board of Directors. The CoC rejected the proposal for extending the CIRP period. The assets of the company were mortgaged/hypothecated to Indian Overseas Bank and had been taken into possession
…The Corporate Debtor was admitted in Corporate…
Order was passed to admit the Corporate…