An application (CA-161/C-V/ND/2019) was filed by the Operational Creditor seeking termination of the Corporate Insolvency Resolution Process (CIRP). The order of admission was not communicated to the Interim Resolution Professional (IRP), and no steps were taken to invite claims or form the Committee of Creditors (CoC). The IRP, Mr. Alok, confirmed this fact.
M/s. Aargus Global Logistics Pvt. Ltd. initiated a CIRP against M/s East West Logistics Pvt Ltd. An application, CA-161/C-V/ND/2019, was filed by the Operational Creditor to terminate the CIRP. The order admitting the CIRP was not communicated to the IRP, Mr. Alok, resulting in no claims being invited and no CoC being formed. The court considered the Apex Court's direction in 'Swiss Ribbons and Anr. Vs. Union of India' and terminated the CIRP, releasing the Corporate Debtor from the moratorium.
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The order was delivered on December 20, 2019,…
An application (CA-161/C-V/ND/2019) was filed by the Operational Creditor seeking termination of the Corporate Insolvency Resolution Process (CIRP). The order of admission was not communicated to the Interim Resolution Professional (IRP), and no steps were taken to invite claims or form the Committee of Creditors (CoC). The IRP, Mr. Alok, confirmed this fact.
M/s. Aargus Global Logistics Pvt. Ltd. initiated a CIRP against M/s East West Logistics Pvt Ltd. An application, CA-161/C-V/ND/2019, was filed by the Operational Creditor to terminate the CIRP. The order admitting the CIRP was not communicated to the IRP, Mr. Alok, resulting in no claims being invited and no CoC being formed. The court considered the Apex Court's direction in 'Swiss Ribbons and Anr. Vs. Union of India' and terminated the CIRP, releasing the Corporate Debtor from the moratorium.
The order was delivered on December 20, 2019,…