The case involves non-compliance by the Interim Resolution Professional (IRP), Mr. Gopala Krishna Raju, despite multiple directions from the National Company Law Tribunal (NCLT). The IRP failed to appear before the Bench on multiple occasions, including after being informed of hearing dates. Indian Overseas Bank, the applicant, sent a letter to the IRP regarding the second meeting of the Committee of Creditors (CoC) to replace him and propose a Resolution Professional (RP).
The Indian Overseas Bank initiated a Corporate Insolvency Resolution Process (CIRP) against Apna Scientific Supplies Private Limited. Mr. Gopala Krishna Raju was appointed as the Interim Resolution Professional (IRP). The NCLT directed the IRP to be present for hearings on multiple occasions, specifically on 2019-03-01, 2019-03-11, 2019-03-13, and 2019-03-14. Despite being informed, Mr. Raju failed to appear. Indian Overseas Bank sent a letter to Mr. Raju to conduct the second meeting of the Committee of Creditors (CoC) to replace him and propose a Resolution Professional (RP). The IRP responded to the letter. The IRP's absence and failure to comply with the Tribunal's orders led to the Tribunal declaring him unfit and imposing a fine. Mr. Ramachandran Balachandran was
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CP/811/IB/2018…
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The case involves non-compliance by the Interim Resolution Professional (IRP), Mr. Gopala Krishna Raju, despite multiple directions from the National Company Law Tribunal (NCLT). The IRP failed to appear before the Bench on multiple occasions, including after being informed of hearing dates. Indian Overseas Bank, the applicant, sent a letter to the IRP regarding the second meeting of the Committee of Creditors (CoC) to replace him and propose a Resolution Professional (RP).
The Indian Overseas Bank initiated a Corporate Insolvency Resolution Process (CIRP) against Apna Scientific Supplies Private Limited. Mr. Gopala Krishna Raju was appointed as the Interim Resolution Professional (IRP). The NCLT directed the IRP to be present for hearings on multiple occasions, specifically on 2019-03-01, 2019-03-11, 2019-03-13, and 2019-03-14. Despite being informed, Mr. Raju failed to appear. Indian Overseas Bank sent a letter to Mr. Raju to conduct the second meeting of the Committee of Creditors (CoC) to replace him and propose a Resolution Professional (RP). The IRP responded to the letter. The IRP's absence and failure to comply with the Tribunal's orders led to the Tribunal declaring him unfit and imposing a fine. Mr. Ramachandran Balachandran was
…CP/811/IB/2018…
Applicant directed to…
Sign in to view related legal provisions.