The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Ajudhia Distributors Ltd. Radico Khaitan Limited filed the application. The Resolution Professional (RP) filed C.A. (IB) No. 418/KB/2017 under Section 70 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking directions and punishment for the corporate debtor's officer, director, and representative for not cooperating with the RP. Despite a show cause notice served on the director and corporate debtor, they failed to appear or respond.
Radico Khaitan Limited initiated CIRP against Ajudhia Distributors Ltd. The Resolution Professional (RP) filed an application (C.A. (IB) No. 418/KB/2017) under Section 70 of the IBC, alleging non-cooperation from Ajudhia Distributors Ltd. despite directions from the NCLT, Kolkata Bench. A show cause notice was issued to the director and the corporate debtor on 09/10/2017 and served via email on 10/10/2017. The corporate debtor did not appear or respond. The NCLT found the corporate debtor to be deliberately disobeying its directions. This non-cooperation hindered the RP's ability to manage the affairs of the corporate debtor. The NCLT imposed a penalty of Rupees Three Lakhs on the Director, Mr. Mohit Korpal.
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A show cause notice was…
The show cause notice…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Ajudhia Distributors Ltd. Radico Khaitan Limited filed the application. The Resolution Professional (RP) filed C.A. (IB) No. 418/KB/2017 under Section 70 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking directions and punishment for the corporate debtor's officer, director, and representative for not cooperating with the RP. Despite a show cause notice served on the director and corporate debtor, they failed to appear or respond.
Radico Khaitan Limited initiated CIRP against Ajudhia Distributors Ltd. The Resolution Professional (RP) filed an application (C.A. (IB) No. 418/KB/2017) under Section 70 of the IBC, alleging non-cooperation from Ajudhia Distributors Ltd. despite directions from the NCLT, Kolkata Bench. A show cause notice was issued to the director and the corporate debtor on 09/10/2017 and served via email on 10/10/2017. The corporate debtor did not appear or respond. The NCLT found the corporate debtor to be deliberately disobeying its directions. This non-cooperation hindered the RP's ability to manage the affairs of the corporate debtor. The NCLT imposed a penalty of Rupees Three Lakhs on the Director, Mr. Mohit Korpal.
A show cause notice was…
The show cause notice…