The case involves an application (I.A. 1398/2020) filed in C.P. 2556/I&B/MB/2019 under Section 66 read with Section 26 of the Insolvency & Bankruptcy Code, 2016. The applicant, Mr. Nandkishor Vishnupant Deshpande, sought reliefs related to fraudulent transactions allegedly conducted by the respondents, particularly Shalibhadra Exports Private Limited, with Royal Refinery Private Limited (the Corporate Debtor). The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 13.11.2019, following a Section 9 petition filed by the Operational Creditor. The applicant contends that the Corporate Debtor engaged in fraudulent or wrongful trading with the intent to defraud creditors, specifically by extending undue credit facilities to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Royal Refinery Private Limited (Corporate Debtor) on 13.11.2019, based on a Section 9 petition. Mr. Nandkishor Vishnupant Deshpande was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement on 21.11.2019, inviting claims from creditors by 04.12.2019. The IRP constituted a Committee of Creditors (CoC). The first CoC meeting was held on 17.12.2019, where the IRP was confirmed and appointed as the Resolution Professional (RP). The Corporate Debtor is engaged in importing and exporting gold, with sales generally made on advance payment or within 2-3 days. The applicant alleges that the Corporate Debtor extended undue credit facilities to Shalibhadra Exports
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Corporate Insolvency Resolution Process (CIRP)…
Public announcement…
The case involves an application (I.A. 1398/2020) filed in C.P. 2556/I&B/MB/2019 under Section 66 read with Section 26 of the Insolvency & Bankruptcy Code, 2016. The applicant, Mr. Nandkishor Vishnupant Deshpande, sought reliefs related to fraudulent transactions allegedly conducted by the respondents, particularly Shalibhadra Exports Private Limited, with Royal Refinery Private Limited (the Corporate Debtor). The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 13.11.2019, following a Section 9 petition filed by the Operational Creditor. The applicant contends that the Corporate Debtor engaged in fraudulent or wrongful trading with the intent to defraud creditors, specifically by extending undue credit facilities to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Royal Refinery Private Limited (Corporate Debtor) on 13.11.2019, based on a Section 9 petition. Mr. Nandkishor Vishnupant Deshpande was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement on 21.11.2019, inviting claims from creditors by 04.12.2019. The IRP constituted a Committee of Creditors (CoC). The first CoC meeting was held on 17.12.2019, where the IRP was confirmed and appointed as the Resolution Professional (RP). The Corporate Debtor is engaged in importing and exporting gold, with sales generally made on advance payment or within 2-3 days. The applicant alleges that the Corporate Debtor extended undue credit facilities to Shalibhadra Exports
…Corporate Insolvency Resolution Process (CIRP)…
Public announcement…