The case involves an application filed by the Operational Creditor, VST Weaves India Private Limited, under the Insolvency and Bankruptcy Code, 2016, seeking to replace the initially appointed Interim Resolution Professional (IRP), Shri S. Muthu Raju, with Shri A. R. Ramasubramania Raja. The Corporate Debtor is Shivaram Yarns Private Limited. The initial petition, CP (IB) No. 173/9/HDB/2018, was admitted on 2019-10-29, and Shri S. Muthu Raju was appointed as IRP.
VST Weaves India Private Limited, the Operational Creditor, filed an application to replace the initially appointed Interim Resolution Professional (IRP), Shri S. Muthu Raju, with Shri A. R. Ramasubramania Raja. The initial petition, CP (IB) No. 173/9/HDB/2018, against Shivaram Yarns Private Limited, the Corporate Debtor, was admitted on 2019-10-29, and Shri S. Muthu Raju was appointed as IRP. Shri S. Muthu Raju expressed his inability to act as IRP via a letter dated 2019-06-12, leading the Operational Creditor to propose Shri A. R. Ramasubramania Raja as the replacement. Shri A. R. Ramasubramania Raja provided his consent in Form No. 2 on 2019-09-12. The court considered these facts and circumstances before allowing the application for replacement.
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CP(IB) No. 173/9/HDB/201…
Shri S. Muthu Raju, the initially appointed IRP,…
The case involves an application filed by the Operational Creditor, VST Weaves India Private Limited, under the Insolvency and Bankruptcy Code, 2016, seeking to replace the initially appointed Interim Resolution Professional (IRP), Shri S. Muthu Raju, with Shri A. R. Ramasubramania Raja. The Corporate Debtor is Shivaram Yarns Private Limited. The initial petition, CP (IB) No. 173/9/HDB/2018, was admitted on 2019-10-29, and Shri S. Muthu Raju was appointed as IRP.
VST Weaves India Private Limited, the Operational Creditor, filed an application to replace the initially appointed Interim Resolution Professional (IRP), Shri S. Muthu Raju, with Shri A. R. Ramasubramania Raja. The initial petition, CP (IB) No. 173/9/HDB/2018, against Shivaram Yarns Private Limited, the Corporate Debtor, was admitted on 2019-10-29, and Shri S. Muthu Raju was appointed as IRP. Shri S. Muthu Raju expressed his inability to act as IRP via a letter dated 2019-06-12, leading the Operational Creditor to propose Shri A. R. Ramasubramania Raja as the replacement. Shri A. R. Ramasubramania Raja provided his consent in Form No. 2 on 2019-09-12. The court considered these facts and circumstances before allowing the application for replacement.
CP(IB) No. 173/9/HDB/201…
Shri S. Muthu Raju, the initially appointed IRP,…