The case pertains to the initiation of Corporate Insolvency Resolution Process (CIRP) against Pantel Technologies Private Limited. An operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was admitted by the Tribunal on 2020-11-26. Mr. Deepak Kukreja was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Gagan Gulati replaced Mr. Kukreja as the IRP. The IRP made a public announcement and constituted a Committee of Creditors (CoC). Several meetings of the CoC were held to explore resolution plans. However, no resolution plan was submitted.
Ankur Enterprises, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Pantel Technologies Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted by the National Company Law Tribunal (NCLT) on 2020-11-26. Initially, Mr. Deepak Kukreja was appointed as the Interim Resolution Professional (IRP), but later, Mr. Gagan Gulati replaced him. The IRP made a public announcement and formed a Committee of Creditors (CoC). Several CoC meetings were held, but no resolution plan was submitted by any prospective resolution applicant. The CoC sought extensions for the CIRP period, but ultimately, they could not pass a resolution for the liquidation of the corporate debtor.
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The Tribunal admitted the application under…
Mr. Deepak Kukreja was…
The case pertains to the initiation of Corporate Insolvency Resolution Process (CIRP) against Pantel Technologies Private Limited. An operational creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was admitted by the Tribunal on 2020-11-26. Mr. Deepak Kukreja was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Gagan Gulati replaced Mr. Kukreja as the IRP. The IRP made a public announcement and constituted a Committee of Creditors (CoC). Several meetings of the CoC were held to explore resolution plans. However, no resolution plan was submitted.
Ankur Enterprises, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Pantel Technologies Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted by the National Company Law Tribunal (NCLT) on 2020-11-26. Initially, Mr. Deepak Kukreja was appointed as the Interim Resolution Professional (IRP), but later, Mr. Gagan Gulati replaced him. The IRP made a public announcement and formed a Committee of Creditors (CoC). Several CoC meetings were held, but no resolution plan was submitted by any prospective resolution applicant. The CoC sought extensions for the CIRP period, but ultimately, they could not pass a resolution for the liquidation of the corporate debtor.
…The Tribunal admitted the application under…
Mr. Deepak Kukreja was…