The case involves a company petition filed by an operational creditor under Section 9 of the Insolvency & Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against the respondent/corporate debtor, M/S. Nandana Hotels Limited. The Tribunal had previously passed an order on 17.08.2017 appointing an Insolvency Resolution Professional (IRP) and issued a moratorium order under Section 14 of the Code. The IRP filed a report on 04.09.2017 and made a public announcement as required by the I&B Code. During the CIRP, the petitioner/operational creditor and the corporate debtor entered into a memorandum of understanding (MoU) where the corporate debtor agreed to repay the money owed. Four post-dated cheques were issued, and one was encashed.
M/s. Jahnvi Makwana Construction Private Limited, an operational creditor, filed a company petition under Section 9 of the Insolvency & Bankruptcy Code (IBC) against M/s. Nandana Hotels Limited, the corporate debtor. The Tribunal initiated the Corporate Insolvency Resolution Process (CIRP) and appointed an Insolvency Resolution Professional (IRP). A moratorium was imposed under Section 14 of the IBC. The IRP filed reports indicating that the corporate debtor had entered into a memorandum of understanding (MoU) with the operational creditor to repay the debt. Four post-dated cheques were issued, and one was encashed. The IRP also reported that the corporate debtor had no financial creditors. The resolution plan was accepted by 95% of the creditors. The resolution
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Tribunal passed an order appointing an…
The IRP f…
The case involves a company petition filed by an operational creditor under Section 9 of the Insolvency & Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against the respondent/corporate debtor, M/S. Nandana Hotels Limited. The Tribunal had previously passed an order on 17.08.2017 appointing an Insolvency Resolution Professional (IRP) and issued a moratorium order under Section 14 of the Code. The IRP filed a report on 04.09.2017 and made a public announcement as required by the I&B Code. During the CIRP, the petitioner/operational creditor and the corporate debtor entered into a memorandum of understanding (MoU) where the corporate debtor agreed to repay the money owed. Four post-dated cheques were issued, and one was encashed.
M/s. Jahnvi Makwana Construction Private Limited, an operational creditor, filed a company petition under Section 9 of the Insolvency & Bankruptcy Code (IBC) against M/s. Nandana Hotels Limited, the corporate debtor. The Tribunal initiated the Corporate Insolvency Resolution Process (CIRP) and appointed an Insolvency Resolution Professional (IRP). A moratorium was imposed under Section 14 of the IBC. The IRP filed reports indicating that the corporate debtor had entered into a memorandum of understanding (MoU) with the operational creditor to repay the debt. Four post-dated cheques were issued, and one was encashed. The IRP also reported that the corporate debtor had no financial creditors. The resolution plan was accepted by 95% of the creditors. The resolution
…Tribunal passed an order appointing an…
The IRP f…