The case involves a petition filed by HDFC Bank Limited, a financial creditor, against Nvento Foods Technologies Pvt. Ltd., the corporate debtor, under Section 7 of the Insolvency & Bankruptcy Code, 2016. The initial order admitted the petition and appointed Mr. Sanjay Kumar Lunkad as the Interim Resolution Professional (IRP). However, it was discovered that Mr. Lunkad's registration had expired, leading the financial creditor to file a Miscellaneous Application for substitution of the IRP.
HDFC Bank Limited filed a petition against Nvento Foods Technologies Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The petition was initially admitted, and Mr. Sanjay Kumar Lunkad was appointed as the Interim Resolution Professional (IRP). However, it was discovered that Mr. Lunkad's registration as an IRP had expired on 06.07.2017. Consequently, HDFC Bank filed a Miscellaneous Application seeking the substitution of the IRP. The financial creditor proposed Mr. Rajeev Mannadiar as the new Resolution Professional, who possesses a valid registration. The court considered a similar case where the registration of the IRP had expired and emphasized the necessity of a qualified Insolvency Professional for the CIRP to proceed. The court then allowed
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An order was passed under section 7 of I&B Code…
Mr. Sanjay Kumar Lunkad…
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The case involves a petition filed by HDFC Bank Limited, a financial creditor, against Nvento Foods Technologies Pvt. Ltd., the corporate debtor, under Section 7 of the Insolvency & Bankruptcy Code, 2016. The initial order admitted the petition and appointed Mr. Sanjay Kumar Lunkad as the Interim Resolution Professional (IRP). However, it was discovered that Mr. Lunkad's registration had expired, leading the financial creditor to file a Miscellaneous Application for substitution of the IRP.
HDFC Bank Limited filed a petition against Nvento Foods Technologies Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016. The petition was initially admitted, and Mr. Sanjay Kumar Lunkad was appointed as the Interim Resolution Professional (IRP). However, it was discovered that Mr. Lunkad's registration as an IRP had expired on 06.07.2017. Consequently, HDFC Bank filed a Miscellaneous Application seeking the substitution of the IRP. The financial creditor proposed Mr. Rajeev Mannadiar as the new Resolution Professional, who possesses a valid registration. The court considered a similar case where the registration of the IRP had expired and emphasized the necessity of a qualified Insolvency Professional for the CIRP to proceed. The court then allowed
…An order was passed under section 7 of I&B Code…
Mr. Sanjay Kumar Lunkad…
Sign in to view related legal provisions.