The case involves M/s Alloys & Metals (India) V/s. M/s. Hindustan Paper Corporation Ltd. Several applications (CA 276/2019, CA 288/2019, CA 255/2018) were filed. CA 276/2019 was filed by the Resolution Professional (RP) due to lack of cooperation from non-applicants regarding audited accounts. CA 288/2019 was filed by a subsidiary of the Corporate Debtor, Hindustan Newsprint Limited, seeking permission to raise finance. CA 255/2018 was filed by the RP seeking investigation into the affairs of the Corporate Debtor.
M/s Alloys & Metals (India) initiated proceedings against M/s Hindustan Paper Corporation Ltd. The Resolution Professional (RP) filed CA 276/2019, stating a lack of cooperation from non-applicants in providing audited accounts for 2018. Mr. Rajat Sen, a non-applicant, claimed willingness to cooperate. Hindustan Newsprint Limited, a subsidiary of the Corporate Debtor, filed CA 288/2019, seeking permission to raise finance. The RP also filed CA 255/2018, seeking investigation into the Corporate Debtor's affairs. The Ministry of Heavy Industries had a budgetary provision of Rs. 90 crores for employee salaries, but it was not disbursed. The court considered these facts and circumstances.
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Hearing before the New…
Audited accounts for…
The case involves M/s Alloys & Metals (India) V/s. M/s. Hindustan Paper Corporation Ltd. Several applications (CA 276/2019, CA 288/2019, CA 255/2018) were filed. CA 276/2019 was filed by the Resolution Professional (RP) due to lack of cooperation from non-applicants regarding audited accounts. CA 288/2019 was filed by a subsidiary of the Corporate Debtor, Hindustan Newsprint Limited, seeking permission to raise finance. CA 255/2018 was filed by the RP seeking investigation into the affairs of the Corporate Debtor.
M/s Alloys & Metals (India) initiated proceedings against M/s Hindustan Paper Corporation Ltd. The Resolution Professional (RP) filed CA 276/2019, stating a lack of cooperation from non-applicants in providing audited accounts for 2018. Mr. Rajat Sen, a non-applicant, claimed willingness to cooperate. Hindustan Newsprint Limited, a subsidiary of the Corporate Debtor, filed CA 288/2019, seeking permission to raise finance. The RP also filed CA 255/2018, seeking investigation into the Corporate Debtor's affairs. The Ministry of Heavy Industries had a budgetary provision of Rs. 90 crores for employee salaries, but it was not disbursed. The court considered these facts and circumstances.
Hearing before the New…
Audited accounts for…