The case involves an application (MA/63/(CHE)/2021) filed by the Interim Resolution Professional (IRP) appointed by the National Company Law Tribunal (NCLT) pursuant to an order initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 28.01.2021. The IRP sought to initiate the CIRP. A related application (MA/64/(CHE)/2021) seeking the listing of MA/63/(CHE)/2021 became infructuous as MA/63/(CHE)/2021 was listed. The advocate for the applicant stated that no Committee of Creditors (CoC) had been constituted. The applicant complied with the Insolvency & Bankruptcy Code, 2016 by publishing a paper publication calling for claims after receiving the order copy on 15.03.2021, with publication done on 18.03.2021.
The Interim Resolution Professional (IRP) filed an application (MA/63/(CHE)/2021) to initiate the Corporate Insolvency Resolution Process (CIRP) against Prostar Textile Mill Pvt Ltd. An earlier order was passed on 28.01.2021 initiating the CIRP. The IRP complied with the requirement to publish a notice calling for claims, with the publication occurring on 18.03.2021, following the receipt of the order copy on 15.03.2021. Only four claims were received from Operational Creditors, and none from Financial Creditors, with the last date for claims fixed on 15.04.2021. No Committee of Creditors (CoC) was constituted. A settlement agreement was reached between the parties on 31.03.2021. The Operational Creditor forwarded Form FA to the IRP on 05.04.2021, which was received on
…Sign in to view the parties.
Order passed by the…
The Applicant/IRP…
The case involves an application (MA/63/(CHE)/2021) filed by the Interim Resolution Professional (IRP) appointed by the National Company Law Tribunal (NCLT) pursuant to an order initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 28.01.2021. The IRP sought to initiate the CIRP. A related application (MA/64/(CHE)/2021) seeking the listing of MA/63/(CHE)/2021 became infructuous as MA/63/(CHE)/2021 was listed. The advocate for the applicant stated that no Committee of Creditors (CoC) had been constituted. The applicant complied with the Insolvency & Bankruptcy Code, 2016 by publishing a paper publication calling for claims after receiving the order copy on 15.03.2021, with publication done on 18.03.2021.
The Interim Resolution Professional (IRP) filed an application (MA/63/(CHE)/2021) to initiate the Corporate Insolvency Resolution Process (CIRP) against Prostar Textile Mill Pvt Ltd. An earlier order was passed on 28.01.2021 initiating the CIRP. The IRP complied with the requirement to publish a notice calling for claims, with the publication occurring on 18.03.2021, following the receipt of the order copy on 15.03.2021. Only four claims were received from Operational Creditors, and none from Financial Creditors, with the last date for claims fixed on 15.04.2021. No Committee of Creditors (CoC) was constituted. A settlement agreement was reached between the parties on 31.03.2021. The Operational Creditor forwarded Form FA to the IRP on 05.04.2021, which was received on
…Order passed by the…
The Applicant/IRP…