The case involves an application filed by the Resolution Professional (RP) alleging that the directors of the suspended board of the Corporate Debtor (CD), Gems Care & Cure Health Centre Private Limited, were unauthorizedly transferring/siphoning funds from the CD's account in HDFC Bank after the commencement of the Corporate Insolvency Resolution Process (CIRP). The RP sought directions for the respondents (directors) to cooperate, provide details of transactions, and refund the siphoned amount. The CIRP was initiated based on an order dated 29th August, 2019. The RP discovered a bank account of the CD in HDFC Bank, Rashbehari Branch, and requested the bank to suspend activities on 4th September, 2019. However, the bank allegedly did not adhere to these
…Gems Care & Cure Health Centre Private Limited (Corporate Debtor) was undergoing CIRP as per the order of Adjudicating Authority (AA) dated 29th August, 2019. The Resolution Professional (RP) discovered that the Corporate Debtor (CD) had a bank account in HDFC Bank, Rashbehari Branch. The RP visited the bank on 4th September, 2019, and requested the suspension of all activities in the bank account. The bank provided a statement on 12th March, 2020, which revealed that the bank had not adhered to the RP's instructions. The directors of the CD allegedly transferred Rs. 5,96,381 from the HDFC bank account after the CIRP commencement. The RP alleged that the directors were not cooperating and not providing details of the transactions. The directors claimed that the
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Order passed by Adjudicating Authority…
Resolution Professional (RP) visited HDFC Bank…
The case involves an application filed by the Resolution Professional (RP) alleging that the directors of the suspended board of the Corporate Debtor (CD), Gems Care & Cure Health Centre Private Limited, were unauthorizedly transferring/siphoning funds from the CD's account in HDFC Bank after the commencement of the Corporate Insolvency Resolution Process (CIRP). The RP sought directions for the respondents (directors) to cooperate, provide details of transactions, and refund the siphoned amount. The CIRP was initiated based on an order dated 29th August, 2019. The RP discovered a bank account of the CD in HDFC Bank, Rashbehari Branch, and requested the bank to suspend activities on 4th September, 2019. However, the bank allegedly did not adhere to these
…Gems Care & Cure Health Centre Private Limited (Corporate Debtor) was undergoing CIRP as per the order of Adjudicating Authority (AA) dated 29th August, 2019. The Resolution Professional (RP) discovered that the Corporate Debtor (CD) had a bank account in HDFC Bank, Rashbehari Branch. The RP visited the bank on 4th September, 2019, and requested the suspension of all activities in the bank account. The bank provided a statement on 12th March, 2020, which revealed that the bank had not adhered to the RP's instructions. The directors of the CD allegedly transferred Rs. 5,96,381 from the HDFC bank account after the CIRP commencement. The RP alleged that the directors were not cooperating and not providing details of the transactions. The directors claimed that the
…Order passed by Adjudicating Authority…
Resolution Professional (RP) visited HDFC Bank…