The case involves an application (IA No. 99/JPR/2019) seeking directions against the respondents to handover possession of assets related to the management and affairs of the Corporate Debtor and to extend cooperation. The Resolution Professional (RP) has not received records or details of asset possession from the respondents. The respondents are nominees appointed by the State Government of Rajasthan, which has acquired control and management of the Corporate Debtor under the Jaipur Metals and Electricals Ltd. Act (Acquisition of shares Act, 1986). The State Government of Rajasthan is in control of the management and affairs of the Corporate Debtor. A cooperative society of workers is also a major shareholder.
Alchemist Asset Reconstruction Company Ltd. initiated proceedings against Jaipur Metals & Electricals Ltd. (JMEL) under Section 7 of the IBC, 2016. The Resolution Professional (RP) has not received records or details of asset possession from the respondents, who are nominees appointed by the State Government of Rajasthan. The State Government of Rajasthan has acquired control and management of the Corporate Debtor under the Jaipur Metals and Electricals Ltd. Act (Acquisition of shares Act, 1986). The RP has been attempting to obtain the necessary documents and details from the respondents since December 2018. The respondents claim to have forwarded requisitions made by the RP to the State Government. The application (IA No. 99/JPR/2019) seeks directions against the
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The Resolution Professional (RP) states that…
This application is filed on 4th April, 2019,…
The case involves an application (IA No. 99/JPR/2019) seeking directions against the respondents to handover possession of assets related to the management and affairs of the Corporate Debtor and to extend cooperation. The Resolution Professional (RP) has not received records or details of asset possession from the respondents. The respondents are nominees appointed by the State Government of Rajasthan, which has acquired control and management of the Corporate Debtor under the Jaipur Metals and Electricals Ltd. Act (Acquisition of shares Act, 1986). The State Government of Rajasthan is in control of the management and affairs of the Corporate Debtor. A cooperative society of workers is also a major shareholder.
Alchemist Asset Reconstruction Company Ltd. initiated proceedings against Jaipur Metals & Electricals Ltd. (JMEL) under Section 7 of the IBC, 2016. The Resolution Professional (RP) has not received records or details of asset possession from the respondents, who are nominees appointed by the State Government of Rajasthan. The State Government of Rajasthan has acquired control and management of the Corporate Debtor under the Jaipur Metals and Electricals Ltd. Act (Acquisition of shares Act, 1986). The RP has been attempting to obtain the necessary documents and details from the respondents since December 2018. The respondents claim to have forwarded requisitions made by the RP to the State Government. The application (IA No. 99/JPR/2019) seeks directions against the
…The Resolution Professional (RP) states that…
This application is filed on 4th April, 2019,…