The case involves an application for initiating Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Punjab National Bank (PNB) against Mintri Tea Co. Pvt. Ltd. The CIRP was initiated, and a Resolution Professional was appointed. Subsequently, the corporate debtor's guarantors/directors repaid the entire claims of PNB and other financial creditors. PNB then filed an application under Section 12A of the IBC to withdraw its application for CIRP. Simultaneously, the directors/guarantors of the corporate debtor filed an application seeking a stay of the CIRP or removal of the Resolution Professional, alleging irregularities. The Resolution Professional also filed an application alleging misconduct by the
…Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Mintri Tea Co. Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted, and a Resolution Professional was appointed. During the CIRP, the guarantors/directors of Mintri Tea Co. Pvt. Ltd. repaid the entire outstanding dues to PNB and other financial creditors. Subsequently, PNB filed an application under Section 12A of the IBC seeking to withdraw its CIRP application. The guarantors/directors of Mintri Tea Co. Pvt. Ltd. also filed an application seeking a stay of the CIRP or removal of the Resolution Professional, alleging irregularities and misconduct. The Resolution Professional filed a separate application alleging misconduct by the
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The case involves an application for initiating Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Punjab National Bank (PNB) against Mintri Tea Co. Pvt. Ltd. The CIRP was initiated, and a Resolution Professional was appointed. Subsequently, the corporate debtor's guarantors/directors repaid the entire claims of PNB and other financial creditors. PNB then filed an application under Section 12A of the IBC to withdraw its application for CIRP. Simultaneously, the directors/guarantors of the corporate debtor filed an application seeking a stay of the CIRP or removal of the Resolution Professional, alleging irregularities. The Resolution Professional also filed an application alleging misconduct by the
…Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Mintri Tea Co. Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted, and a Resolution Professional was appointed. During the CIRP, the guarantors/directors of Mintri Tea Co. Pvt. Ltd. repaid the entire outstanding dues to PNB and other financial creditors. Subsequently, PNB filed an application under Section 12A of the IBC seeking to withdraw its CIRP application. The guarantors/directors of Mintri Tea Co. Pvt. Ltd. also filed an application seeking a stay of the CIRP or removal of the Resolution Professional, alleging irregularities and misconduct. The Resolution Professional filed a separate application alleging misconduct by the
…The application filed by Punjab National Bank…
Publication for…