The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Servomax India Pvt Ltd. Murali Krishna Power Controls Pvt Ltd filed the company petition to initiate CIRP. The Resolution Professional (RP) observed irregularities relating to the corporate debtor and sought directions from the Tribunal to recover outstanding amounts and assets. The RP also requested the Tribunal to direct the ex-directors to provide necessary information and cooperate with the CIRP process.
Murali Krishna Power Controls Pvt Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Servomax India Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC). The petition was admitted on 22.02.2018. The Resolution Professional (RP) observed irregularities relating to the corporate debtor company, including outstanding amounts due from companies related to Mr. A. Venkateswara Rao, the ex-director. The RP also noted discrepancies in the books of accounts and a lack of cooperation from the suspended board of directors. The RP filed applications seeking directions from the Tribunal to compel the ex-directors to provide necessary information, recover outstanding amounts, and bring back assets transferred to other companies. The ex-directors
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Company petition bearing No. CP (IB) No.…
Tribunal admitted the…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Servomax India Pvt Ltd. Murali Krishna Power Controls Pvt Ltd filed the company petition to initiate CIRP. The Resolution Professional (RP) observed irregularities relating to the corporate debtor and sought directions from the Tribunal to recover outstanding amounts and assets. The RP also requested the Tribunal to direct the ex-directors to provide necessary information and cooperate with the CIRP process.
Murali Krishna Power Controls Pvt Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Servomax India Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC). The petition was admitted on 22.02.2018. The Resolution Professional (RP) observed irregularities relating to the corporate debtor company, including outstanding amounts due from companies related to Mr. A. Venkateswara Rao, the ex-director. The RP also noted discrepancies in the books of accounts and a lack of cooperation from the suspended board of directors. The RP filed applications seeking directions from the Tribunal to compel the ex-directors to provide necessary information, recover outstanding amounts, and bring back assets transferred to other companies. The ex-directors
…Company petition bearing No. CP (IB) No.…
Tribunal admitted the…