Jeena and Co., the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Inox Wind Limited, the corporate debtor, for initiating the insolvency resolution process due to default in payment of debt. The petition was admitted on 05.07.2017, and certain directions were issued, including declaring a moratorium. The matter was then fixed for the appointment of an Interim Resolution Professional (IRP) and further directions.
Jeena and Co. filed a petition against Inox Wind Limited under Section 9 of the IBC, 2016, due to a default in debt payment. The petition was admitted on 05.07.2017, and a moratorium was declared. The Corporate Debtor, Inox Wind Limited, sought time to pay the amount. The Corporate Debtor received the petition on 30.05.2017 but did not file a caveat. The court appointed Bhupesh Gupta as the Interim Resolution Professional (IRP). The powers of the Board of Directors were suspended, and the management was vested in the IRP. The IRP was directed to form a Committee of Creditors (CoC) and make a public announcement. The notice was served upon the respondent on 2017-04-04 for 2017-05-07, the date of hearing.
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Board of Directors authorized Devansh Jain,…
The petition filed by the Operational Creditor…
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Jeena and Co., the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Inox Wind Limited, the corporate debtor, for initiating the insolvency resolution process due to default in payment of debt. The petition was admitted on 05.07.2017, and certain directions were issued, including declaring a moratorium. The matter was then fixed for the appointment of an Interim Resolution Professional (IRP) and further directions.
Jeena and Co. filed a petition against Inox Wind Limited under Section 9 of the IBC, 2016, due to a default in debt payment. The petition was admitted on 05.07.2017, and a moratorium was declared. The Corporate Debtor, Inox Wind Limited, sought time to pay the amount. The Corporate Debtor received the petition on 30.05.2017 but did not file a caveat. The court appointed Bhupesh Gupta as the Interim Resolution Professional (IRP). The powers of the Board of Directors were suspended, and the management was vested in the IRP. The IRP was directed to form a Committee of Creditors (CoC) and make a public announcement. The notice was served upon the respondent on 2017-04-04 for 2017-05-07, the date of hearing.
Board of Directors authorized Devansh Jain,…
The petition filed by the Operational Creditor…
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