This is an Interlocutory Application filed by the Liquidator Ms. Rekha Shah of Fibertech Infracon Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Insolvency Resolution Process of the Corporate Debtor was commenced on 17.01.2019 and this Tribunal allowed the Liquidation on 05.12.2019. The Resolution Professional was not keen to continue, the applicant in the present application was appointed as liquidator. The Resolution Professional handed over the charge to the liquidator on 24.12.2019. The applicant sought directions on the way forward and also for directing the Respondents to make payment towards liquidation cost as the applicant is handicapped in conducting the liquidation process due to unavailability of expenses and fees.
Ms. Rekha Kantilal Shah, the Liquidator of Fibertech Infracon Private Limited, filed an Interlocutory Application (IA No. 1073 of 2020) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor's Insolvency Resolution Process commenced on 17.01.2019, and liquidation was ordered on 05.12.2019. The Resolution Professional was replaced by Ms. Shah as the liquidator on 24.12.2019. The applicant discovered that Reliance Commercial Finance Ltd. (Respondent No. 01), the original petitioner, had assigned the debt to Suraksha Asset Reconstruction Pvt. Ltd. (Respondent No. 02) on 29.09.2017, registered on 10.01.2018, and filed with the MCA on 03.05.2019. The applicant rejected Respondent No. 01's claim due to the debt assignment. Respondent No. 02
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Reliance Commercial Finance Ltd. assigned the…
The debt assignment was…
This is an Interlocutory Application filed by the Liquidator Ms. Rekha Shah of Fibertech Infracon Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Insolvency Resolution Process of the Corporate Debtor was commenced on 17.01.2019 and this Tribunal allowed the Liquidation on 05.12.2019. The Resolution Professional was not keen to continue, the applicant in the present application was appointed as liquidator. The Resolution Professional handed over the charge to the liquidator on 24.12.2019. The applicant sought directions on the way forward and also for directing the Respondents to make payment towards liquidation cost as the applicant is handicapped in conducting the liquidation process due to unavailability of expenses and fees.
Ms. Rekha Kantilal Shah, the Liquidator of Fibertech Infracon Private Limited, filed an Interlocutory Application (IA No. 1073 of 2020) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor's Insolvency Resolution Process commenced on 17.01.2019, and liquidation was ordered on 05.12.2019. The Resolution Professional was replaced by Ms. Shah as the liquidator on 24.12.2019. The applicant discovered that Reliance Commercial Finance Ltd. (Respondent No. 01), the original petitioner, had assigned the debt to Suraksha Asset Reconstruction Pvt. Ltd. (Respondent No. 02) on 29.09.2017, registered on 10.01.2018, and filed with the MCA on 03.05.2019. The applicant rejected Respondent No. 01's claim due to the debt assignment. Respondent No. 02
…Reliance Commercial Finance Ltd. assigned the…
The debt assignment was…