The case involves an application (IA 390/2018) filed by the Resolution Professional seeking permission to amend the application in the interest of justice, specifically concerning paragraphs 2.12 and 2.13. IA 235/2018 was filed under section 33(1)(a) of the Insolvency and Bankruptcy Code, seeking liquidation. The applicant wants to delete certain prayers in IA 235/2018 and add a new prayer related to treating a specific amount as a liquidation asset.
The Resolution Professional (RP), Mr. Arvind Gaudana, filed IA 390/2018 seeking permission to amend the application. The amendment involves deleting prayer clauses 17(b) and 17(d) from IA 235/2018 and adding a new prayer, 17(b), to treat Rs. 30,50,000 received from 22.12.2017 as a liquidation asset under section 36 of the Insolvency and Bankruptcy Code. This amount was confirmed by the bank via email on 10.10.2018. The RP also seeks permission to transfer the amount to a bank account opened by the liquidator for meeting process expenses as per regulation 41 of the IBBI (Liquidation Process Regulation, 2016). IA 235/2018 was filed under section 33(1)(a) of the IBC, seeking liquidation.
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Date from which Rs.…
Bank confirmed the…
The case involves an application (IA 390/2018) filed by the Resolution Professional seeking permission to amend the application in the interest of justice, specifically concerning paragraphs 2.12 and 2.13. IA 235/2018 was filed under section 33(1)(a) of the Insolvency and Bankruptcy Code, seeking liquidation. The applicant wants to delete certain prayers in IA 235/2018 and add a new prayer related to treating a specific amount as a liquidation asset.
The Resolution Professional (RP), Mr. Arvind Gaudana, filed IA 390/2018 seeking permission to amend the application. The amendment involves deleting prayer clauses 17(b) and 17(d) from IA 235/2018 and adding a new prayer, 17(b), to treat Rs. 30,50,000 received from 22.12.2017 as a liquidation asset under section 36 of the Insolvency and Bankruptcy Code. This amount was confirmed by the bank via email on 10.10.2018. The RP also seeks permission to transfer the amount to a bank account opened by the liquidator for meeting process expenses as per regulation 41 of the IBBI (Liquidation Process Regulation, 2016). IA 235/2018 was filed under section 33(1)(a) of the IBC, seeking liquidation.
Date from which Rs.…
Bank confirmed the…