The Corporate Insolvency Resolution Process (CIRP) of Sanaa Syntex Private Limited commenced on 2017-08-22, following the admission of a Section 7 application filed by State Bank of India. The resolution plan was not approved, leading to a liquidation order on 2018-07-19, and Mr. Anuj Bajpai was appointed as the Liquidator. The Liquidator filed MA 436/2018 seeking various reliefs related to fraudulent and preferential transactions.
The Corporate Insolvency Resolution Process (CIRP) of Sanaa Syntex Private Limited commenced on August 22, 2017, following the admission of a Section 7 application by State Bank of India. The resolution plan was not approved, leading to a liquidation order on July 19, 2018, and Mr. Anuj Bajpai was appointed as the Liquidator. The Liquidator discovered several fraudulent and preferential transactions during the CIRP. These included the transfer of assets without corresponding payments, fictitious sales to Konark Synthetics Ltd. to obtain inflated bill discounting facilities from SBI, and the preferential repayment of loans to Respondent No. 1 (Sunil Kathuria) over secured loans from banks. The registered office of the Corporate Debtor was changed without following due
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Corporate Insolvency Resolution Process of…
Liquidation order was…
The Corporate Insolvency Resolution Process (CIRP) of Sanaa Syntex Private Limited commenced on 2017-08-22, following the admission of a Section 7 application filed by State Bank of India. The resolution plan was not approved, leading to a liquidation order on 2018-07-19, and Mr. Anuj Bajpai was appointed as the Liquidator. The Liquidator filed MA 436/2018 seeking various reliefs related to fraudulent and preferential transactions.
The Corporate Insolvency Resolution Process (CIRP) of Sanaa Syntex Private Limited commenced on August 22, 2017, following the admission of a Section 7 application by State Bank of India. The resolution plan was not approved, leading to a liquidation order on July 19, 2018, and Mr. Anuj Bajpai was appointed as the Liquidator. The Liquidator discovered several fraudulent and preferential transactions during the CIRP. These included the transfer of assets without corresponding payments, fictitious sales to Konark Synthetics Ltd. to obtain inflated bill discounting facilities from SBI, and the preferential repayment of loans to Respondent No. 1 (Sunil Kathuria) over secured loans from banks. The registered office of the Corporate Debtor was changed without following due
…Corporate Insolvency Resolution Process of…
Liquidation order was…