The case involves a corporate insolvency resolution process initiated by Radico Khaitan Ltd., an operational creditor, against Ajudhia Distributors Pvt. Ltd., the corporate debtor. The Interim Resolution Professional (IRP), Mr. Arun Kumar Khandelia, was appointed. However, the corporate debtor failed to cooperate, not attending meetings or providing necessary information. This led the IRP to file an application seeking directions to compel the corporate debtor to provide the required information. Despite directions from the Tribunal and a show cause notice to the Director, Mr. Mohit Korpal, the corporate debtor continued to be non-cooperative.
Radico Khaitan Ltd., an operational creditor, filed a CP under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Ajudhia Distributors Pvt. Ltd., the corporate debtor, seeking initiation of the corporate insolvency resolution process. The petition was admitted on 1/5/2017, and Mr. Arun Kumar Khandelia was appointed as the Interim Resolution Professional. The corporate debtor failed to cooperate with the IRP, not attending meetings or providing necessary information. The IRP filed an application (CA/(IB) No.238/KB/2017) under Sec.19(2) and 19(3) of the I&B Code seeking directions to the corporate debtor. A show cause notice was issued to the Director, Mr. Mohit Korpal, on 9/10/2017. The Director failed to provide an explanation, leading to the
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The Tribunal admitted…
Mr. Arun Kumar…
The case involves a corporate insolvency resolution process initiated by Radico Khaitan Ltd., an operational creditor, against Ajudhia Distributors Pvt. Ltd., the corporate debtor. The Interim Resolution Professional (IRP), Mr. Arun Kumar Khandelia, was appointed. However, the corporate debtor failed to cooperate, not attending meetings or providing necessary information. This led the IRP to file an application seeking directions to compel the corporate debtor to provide the required information. Despite directions from the Tribunal and a show cause notice to the Director, Mr. Mohit Korpal, the corporate debtor continued to be non-cooperative.
Radico Khaitan Ltd., an operational creditor, filed a CP under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Ajudhia Distributors Pvt. Ltd., the corporate debtor, seeking initiation of the corporate insolvency resolution process. The petition was admitted on 1/5/2017, and Mr. Arun Kumar Khandelia was appointed as the Interim Resolution Professional. The corporate debtor failed to cooperate with the IRP, not attending meetings or providing necessary information. The IRP filed an application (CA/(IB) No.238/KB/2017) under Sec.19(2) and 19(3) of the I&B Code seeking directions to the corporate debtor. A show cause notice was issued to the Director, Mr. Mohit Korpal, on 9/10/2017. The Director failed to provide an explanation, leading to the
…The Tribunal admitted…
Mr. Arun Kumar…