The case involves an application (I.A. No. 159 of 2020) filed in C.P. (IB) No. 235/BB/2018 by M/s. Orijean Private Limited, seeking to condone a delay of 159 days in submitting the Tribunal's order to the Registrar of Companies (ROC). The original C.P. (IB) No. 235/BB/2018 was filed by Vaishnavi Industries against Orijean Private Limited for defaulting on a payment of Rs. 12,28,762. The adjudicating authority admitted the case, initiated CIRP, and appointed an IRP. Subsequently, an application (I.A. No. 418/2019) was filed for withdrawal of the CIRP after the outstanding dues were settled with the Corporate Debtor. The application for withdrawal was allowed on September 4, 2019. The order was required to be filed with the ROC within 30 days, but it was filed with a
…Vaishnavi Industries initiated Corporate Insolvency Resolution Process (CIRP) against Orijean Private Limited (the applicant) under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to a default of Rs. 12,28,762. The adjudicating authority admitted the case and initiated CIRP. Subsequently, Orijean Private Limited settled the outstanding dues with Vaishnavi Industries, leading to the filing of I.A. No. 418/2019 for withdrawal of the CIRP application. The Tribunal allowed the withdrawal on September 4, 2019, requiring the order to be filed with the Registrar of Companies (ROC) within 30 days, i.e., by October 5, 2019. However, the order was filed on February 18, 2020, with a delay of 159 days. The Registrar of Companies raised an objection to the delay. Orijean
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Vaishnavi Industries…
The adjudicating…
The case involves an application (I.A. No. 159 of 2020) filed in C.P. (IB) No. 235/BB/2018 by M/s. Orijean Private Limited, seeking to condone a delay of 159 days in submitting the Tribunal's order to the Registrar of Companies (ROC). The original C.P. (IB) No. 235/BB/2018 was filed by Vaishnavi Industries against Orijean Private Limited for defaulting on a payment of Rs. 12,28,762. The adjudicating authority admitted the case, initiated CIRP, and appointed an IRP. Subsequently, an application (I.A. No. 418/2019) was filed for withdrawal of the CIRP after the outstanding dues were settled with the Corporate Debtor. The application for withdrawal was allowed on September 4, 2019. The order was required to be filed with the ROC within 30 days, but it was filed with a
…Vaishnavi Industries initiated Corporate Insolvency Resolution Process (CIRP) against Orijean Private Limited (the applicant) under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to a default of Rs. 12,28,762. The adjudicating authority admitted the case and initiated CIRP. Subsequently, Orijean Private Limited settled the outstanding dues with Vaishnavi Industries, leading to the filing of I.A. No. 418/2019 for withdrawal of the CIRP application. The Tribunal allowed the withdrawal on September 4, 2019, requiring the order to be filed with the Registrar of Companies (ROC) within 30 days, i.e., by October 5, 2019. However, the order was filed on February 18, 2020, with a delay of 159 days. The Registrar of Companies raised an objection to the delay. Orijean
…Vaishnavi Industries…
The adjudicating…