The case pertains to a petition filed by Allahabad Bank, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating) Rules, 2016, for initiating the insolvency resolution process against Skyhigh Infraland Pvt. Ltd., the Corporate Debtor. The petition was admitted on 2018-10-29.
Allahabad Bank, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Skyhigh Infraland Pvt. Ltd., the Corporate Debtor. The petition was filed due to the Corporate Debtor's alleged default on its financial obligations to the bank. The Adjudicating Authority admitted the petition on 2018-10-29. The court then proceeded to declare a moratorium, appoint an Interim Resolution Professional (IRP), and suspend the powers of the Board of Directors of the Corporate Debtor. Mr. Jalesh Kumar Grover was appointed as the IRP. The IRP was directed to take control of the Corporate Debtor's assets and affairs, make a public announcement, and constitute a
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The petition filed by…
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The case pertains to a petition filed by Allahabad Bank, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating) Rules, 2016, for initiating the insolvency resolution process against Skyhigh Infraland Pvt. Ltd., the Corporate Debtor. The petition was admitted on 2018-10-29.
Allahabad Bank, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Skyhigh Infraland Pvt. Ltd., the Corporate Debtor. The petition was filed due to the Corporate Debtor's alleged default on its financial obligations to the bank. The Adjudicating Authority admitted the petition on 2018-10-29. The court then proceeded to declare a moratorium, appoint an Interim Resolution Professional (IRP), and suspend the powers of the Board of Directors of the Corporate Debtor. Mr. Jalesh Kumar Grover was appointed as the IRP. The IRP was directed to take control of the Corporate Debtor's assets and affairs, make a public announcement, and constitute a
…The petition filed by…
The court delivered the order declaring a…