The Resolution Professional (RP) for Meena Jewellers Pvt Ltd filed IA 466/2020 seeking directions against the Commissioner of Police, Hyderabad City, and respondents 1 and 2 (Umesh Purshottam Jethwani and Sanjay Kumar Vada) to provide assistance in taking custody and possession of the corporate debtor's assets. The RP alleged non-cooperation from the respondents in handing over assets and information necessary for the Corporate Insolvency Resolution Process (CIRP). The application was filed under Regulation 30 of the IBBI (CIRP) Regulations, 2016, read with Section 19(2) of the IBC, 2016. The CIRP was initiated based on an application filed by State Bank of India under Section 7 of the I&B Code, admitted on 26.11.2019.
The State Bank of India initiated CIRP against Meena Jewellers Pvt Ltd under Section 7 of the I&B Code, which was admitted on 26.11.2019. The Resolution Professional (RP) was appointed as the Interim Resolution Professional (IRP). The RP filed IA 466/2020 because the respondents, including the Commissioner of Police, Hyderabad City, and the former directors of Meena Jewellers, failed to cooperate in handing over assets, records, and information. The RP claimed that the respondents did not provide physical possession of the assets and records, hindering the CIRP. Respondent no. 1 (Umesh Purshottam Jethwani) filed a counter denying the allegations and claiming that they had offered possession of the assets. The Corporate Debtor had three jewellery showrooms at
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The application filed by State Bank of…
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The Resolution Professional (RP) for Meena Jewellers Pvt Ltd filed IA 466/2020 seeking directions against the Commissioner of Police, Hyderabad City, and respondents 1 and 2 (Umesh Purshottam Jethwani and Sanjay Kumar Vada) to provide assistance in taking custody and possession of the corporate debtor's assets. The RP alleged non-cooperation from the respondents in handing over assets and information necessary for the Corporate Insolvency Resolution Process (CIRP). The application was filed under Regulation 30 of the IBBI (CIRP) Regulations, 2016, read with Section 19(2) of the IBC, 2016. The CIRP was initiated based on an application filed by State Bank of India under Section 7 of the I&B Code, admitted on 26.11.2019.
The State Bank of India initiated CIRP against Meena Jewellers Pvt Ltd under Section 7 of the I&B Code, which was admitted on 26.11.2019. The Resolution Professional (RP) was appointed as the Interim Resolution Professional (IRP). The RP filed IA 466/2020 because the respondents, including the Commissioner of Police, Hyderabad City, and the former directors of Meena Jewellers, failed to cooperate in handing over assets, records, and information. The RP claimed that the respondents did not provide physical possession of the assets and records, hindering the CIRP. Respondent no. 1 (Umesh Purshottam Jethwani) filed a counter denying the allegations and claiming that they had offered possession of the assets. The Corporate Debtor had three jewellery showrooms at
…The application filed by State Bank of…
CIRP start…