The case involves an application filed by the Resolution Professional (RP) seeking the lifting of attachment over the Subject Properties belonging to the Corporate Debtor and directing the Directorate of Enforcement (DE) to hand over the physical possession of the Subject Properties to the Applicant. The Operational Creditor M/S Azad ImpexPvt. Ltd. had filed an application under Section 9 of the I&B Code, leading to the appointment of Mr. Manohar Lal Vij as the Interim Resolution Professional (IRP). Subsequently, a Committee of Creditors (CoC) was formed, and the Applicant's appointment as the Resolution Professional was confirmed. The RP discovered that certain immovable properties of the Corporate Debtor were in the possession of the Directorate of Enforcement.
M/S Azad Impex Private Limited, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/S Surya Manufacturing Private Limited. Manohar Lal Vij was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). During the CIRP, the RP discovered that certain immovable properties of the Corporate Debtor, including factory land and building in Haryana and land in Bihar, were in the possession of the Directorate of Enforcement (DE). The DE had attached these properties under Section 5 of the Prevention of Money Laundering Act (PMLA), 2002, based on allegations of money laundering. The RP requested access to the properties for valuation, but the DE denied permission. The Corporate Debtor
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Order passed ap…
The CoC confirmed the appointment of the…
The case involves an application filed by the Resolution Professional (RP) seeking the lifting of attachment over the Subject Properties belonging to the Corporate Debtor and directing the Directorate of Enforcement (DE) to hand over the physical possession of the Subject Properties to the Applicant. The Operational Creditor M/S Azad ImpexPvt. Ltd. had filed an application under Section 9 of the I&B Code, leading to the appointment of Mr. Manohar Lal Vij as the Interim Resolution Professional (IRP). Subsequently, a Committee of Creditors (CoC) was formed, and the Applicant's appointment as the Resolution Professional was confirmed. The RP discovered that certain immovable properties of the Corporate Debtor were in the possession of the Directorate of Enforcement.
M/S Azad Impex Private Limited, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/S Surya Manufacturing Private Limited. Manohar Lal Vij was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). During the CIRP, the RP discovered that certain immovable properties of the Corporate Debtor, including factory land and building in Haryana and land in Bihar, were in the possession of the Directorate of Enforcement (DE). The DE had attached these properties under Section 5 of the Prevention of Money Laundering Act (PMLA), 2002, based on allegations of money laundering. The RP requested access to the properties for valuation, but the DE denied permission. The Corporate Debtor
…Order passed ap…
The CoC confirmed the appointment of the…