Engenious Engineering Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Onaex Natura Private Limited, categorizing it as 'Corporate Debtor'. The application stems from a dispute over the allotment of shares and an alleged unsecured loan. Previously, two shareholders of Onaex Natura Private Limited had filed a Company Petition against Onaex Natura, alleging oppression and mismanagement. In that petition, Engenious Engineering was added as a respondent. The Company Law Board disposed of the petition, setting aside an increase in authorized share capital and cancelling the allotment of 5,25,000 shares to Engenious Engineering. Engenious Engineering
…Engenious Engineering Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Onaex Natura Private Limited, claiming to be a financial creditor. The claim arises from a prior dispute where two shareholders of Onaex Natura filed a Company Petition alleging oppression and mismanagement. Engenious Engineering was added as a respondent in that petition. The Company Law Board (CLB) disposed of the petition, setting aside an increase in Onaex Natura's authorized share capital and cancelling the allotment of 5,25,000 shares to Engenious Engineering. Engenious Engineering claims it invested in Onaex Natura through share capital, but the allotment was cancelled by the
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Two shareholders of Onaex Natura Private…
The Company Law Board disposed of the Company…
Engenious Engineering Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Onaex Natura Private Limited, categorizing it as 'Corporate Debtor'. The application stems from a dispute over the allotment of shares and an alleged unsecured loan. Previously, two shareholders of Onaex Natura Private Limited had filed a Company Petition against Onaex Natura, alleging oppression and mismanagement. In that petition, Engenious Engineering was added as a respondent. The Company Law Board disposed of the petition, setting aside an increase in authorized share capital and cancelling the allotment of 5,25,000 shares to Engenious Engineering. Engenious Engineering
…Engenious Engineering Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Onaex Natura Private Limited, claiming to be a financial creditor. The claim arises from a prior dispute where two shareholders of Onaex Natura filed a Company Petition alleging oppression and mismanagement. Engenious Engineering was added as a respondent in that petition. The Company Law Board (CLB) disposed of the petition, setting aside an increase in Onaex Natura's authorized share capital and cancelling the allotment of 5,25,000 shares to Engenious Engineering. Engenious Engineering claims it invested in Onaex Natura through share capital, but the allotment was cancelled by the
…Two shareholders of Onaex Natura Private…
The Company Law Board disposed of the Company…