The case involves an application (IA No. 271/2020) filed by the sole COC Member, Central Bank of India, under Section 22(3)(b) of the Insolvency and Bankruptcy Code (IBC), seeking the appointment of Mr. Sachin Gopal Jathar as the Resolution Professional (RP) by replacing the existing Interim Resolution Professional (IRP), Mr. Sanjay Kumar Agarwal. The Corporate Insolvency Resolution Process (CIRP) was initiated against Luni Power Company Pvt. Ltd. on 23.12.2019, when CP (IB) No. 122/Chd/HP/2019 was admitted. Mr. Sanjay Kumar Agarwal was appointed as IRP on the same day. The COC resolved to confirm Mr. Sanjay Kumar Agarwal as the RP, but before the application could be filed, Mr. Agarwal was arrested by the CBI on 11.02.2020 and later released on bail.
The Central Bank of India, acting as the financial creditor and sole member of the Committee of Creditors (COC), initiated Corporate Insolvency Resolution Process (CIRP) against Luni Power Company Pvt. Ltd. The CIRP was initiated on 23.12.2019, and Mr. Sanjay Kumar Agarwal was appointed as the Interim Resolution Professional (IRP). Subsequently, the COC resolved to confirm Mr. Agarwal as the Resolution Professional (RP). However, before the formal application for confirmation could be filed, Mr. Agarwal was arrested by the CBI on 11.02.2020, although he was later released on bail. Following Mr. Agarwal's arrest, the Central Bank of India convened a COC meeting on 18.02.2020 and resolved to appoint Mr. Sachin Gopal Jathar as the new RP in place of Mr. Agarwal. The
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The case involves an application (IA No. 271/2020) filed by the sole COC Member, Central Bank of India, under Section 22(3)(b) of the Insolvency and Bankruptcy Code (IBC), seeking the appointment of Mr. Sachin Gopal Jathar as the Resolution Professional (RP) by replacing the existing Interim Resolution Professional (IRP), Mr. Sanjay Kumar Agarwal. The Corporate Insolvency Resolution Process (CIRP) was initiated against Luni Power Company Pvt. Ltd. on 23.12.2019, when CP (IB) No. 122/Chd/HP/2019 was admitted. Mr. Sanjay Kumar Agarwal was appointed as IRP on the same day. The COC resolved to confirm Mr. Sanjay Kumar Agarwal as the RP, but before the application could be filed, Mr. Agarwal was arrested by the CBI on 11.02.2020 and later released on bail.
The Central Bank of India, acting as the financial creditor and sole member of the Committee of Creditors (COC), initiated Corporate Insolvency Resolution Process (CIRP) against Luni Power Company Pvt. Ltd. The CIRP was initiated on 23.12.2019, and Mr. Sanjay Kumar Agarwal was appointed as the Interim Resolution Professional (IRP). Subsequently, the COC resolved to confirm Mr. Agarwal as the Resolution Professional (RP). However, before the formal application for confirmation could be filed, Mr. Agarwal was arrested by the CBI on 11.02.2020, although he was later released on bail. Following Mr. Agarwal's arrest, the Central Bank of India convened a COC meeting on 18.02.2020 and resolved to appoint Mr. Sachin Gopal Jathar as the new RP in place of Mr. Agarwal. The
…Corporate Insolvency Resolution Process (CIRP)…
Mr. Sanjay Kumar Agarwal…
Sign in to view related legal provisions.