M/s Om Logistics Ltd. filed an application under Section 9 of the IBC, 2016 to initiate CIRP against NTL Electronics India Ltd. The petition was admitted on August 27, 2019. Ms. Pooja Bahry was appointed as the Resolution Professional (RP). M/s CMI Limited was declared as a Prospective Resolution Applicant. The applicant, Mr. Amit Jain, sought permission for M/s Orkus Private Limited to submit the resolution plan instead of M/s CMI Limited. The RP rejected this request.
M/s Om Logistics Ltd. initiated CIRP against M/s NTL Electronics India Ltd. under Section 9 of IBC, which was admitted on August 27, 2019. Ms. Pooja Bahry was appointed as the Resolution Professional. M/s CMI Limited was declared a Prospective Resolution Applicant. Mr. Amit Jain, Managing Director of CMI Ltd., sought permission for M/s Orkus Private Limited (where he and his spouse hold 100% shareholding) to submit the resolution plan instead of CMI Limited. The RP rejected this request. Orkus Pvt. Ltd. has been getting its products manufactured at the factory of NTL Electronics India Limited/Corporate Debtor at Roorkee on job work basis since December 2019. The commercial value of transactions between Orkus and NTL/Corporate Debtor from Dec-19 to Jun-20 is Rs.
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Application under Section 9 of IBC filed by M/s…
M/s CMI Limited was declared as Prospective…
M/s Om Logistics Ltd. filed an application under Section 9 of the IBC, 2016 to initiate CIRP against NTL Electronics India Ltd. The petition was admitted on August 27, 2019. Ms. Pooja Bahry was appointed as the Resolution Professional (RP). M/s CMI Limited was declared as a Prospective Resolution Applicant. The applicant, Mr. Amit Jain, sought permission for M/s Orkus Private Limited to submit the resolution plan instead of M/s CMI Limited. The RP rejected this request.
M/s Om Logistics Ltd. initiated CIRP against M/s NTL Electronics India Ltd. under Section 9 of IBC, which was admitted on August 27, 2019. Ms. Pooja Bahry was appointed as the Resolution Professional. M/s CMI Limited was declared a Prospective Resolution Applicant. Mr. Amit Jain, Managing Director of CMI Ltd., sought permission for M/s Orkus Private Limited (where he and his spouse hold 100% shareholding) to submit the resolution plan instead of CMI Limited. The RP rejected this request. Orkus Pvt. Ltd. has been getting its products manufactured at the factory of NTL Electronics India Limited/Corporate Debtor at Roorkee on job work basis since December 2019. The commercial value of transactions between Orkus and NTL/Corporate Debtor from Dec-19 to Jun-20 is Rs.
…Application under Section 9 of IBC filed by M/s…
M/s CMI Limited was declared as Prospective…