The Resolution Professional filed an application under Section 66 of the Insolvency and Bankruptcy Code, 2016, seeking directions against the suspended directors of the Corporate Debtor for alleged fraudulent transactions and diversion of funds, including unjustified donations, non-collection of interest on loans, falsification of books by adjustment, and booking of false/non-business-related expenses.
The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) for Opulent Infradevelopers Private Limited on July 12, 2022, based on an application by Genesis Comtrade Pvt. Ltd., the financial creditor. Mr. Devendra Umrao was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional. Following his appointment, the Resolution Professional requested information and documents from the suspended Board of Directors and advised them to cease all payment transactions.
…The Adjudicating Authority admitted the…
Mr. Devendra Umrao was appointed as the…
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The Resolution Professional filed an application under Section 66 of the Insolvency and Bankruptcy Code, 2016, seeking directions against the suspended directors of the Corporate Debtor for alleged fraudulent transactions and diversion of funds, including unjustified donations, non-collection of interest on loans, falsification of books by adjustment, and booking of false/non-business-related expenses.
The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) for Opulent Infradevelopers Private Limited on July 12, 2022, based on an application by Genesis Comtrade Pvt. Ltd., the financial creditor. Mr. Devendra Umrao was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional. Following his appointment, the Resolution Professional requested information and documents from the suspended Board of Directors and advised them to cease all payment transactions.
…The Adjudicating Authority admitted the…
Mr. Devendra Umrao was appointed as the…
Sign in to view related legal provisions.