The case involves an application filed by Vivek Raheja, the Resolution Professional of Trading Engineers (International) Limited, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the closure of the Corporate Insolvency Resolution Process (CIRP). A prior CIRP had already been initiated against the same Corporate Debtor, Trading Engineers (International) Limited, based on an order dated 04.07.2019. Subsequently, another CIRP was initiated against the same Corporate Debtor vide order dated 17.12.2019 in another petition. The Tribunal noted that neither the IRP (Vivek Raheja) nor the suspended management of the Corporate Debtor informed the Tribunal about the existing CIRP.
Vijay Purohit, the Financial Creditor, initiated a Corporate Insolvency Resolution Process (CIRP) against Trading Engineers (International) Limited, the Corporate Debtor. Vivek Raheja was appointed as the Resolution Professional (RP). The CIRP against Trading Engineers (International) Limited was initiated vide order dated 04.07.2019. Subsequently, another CIRP was initiated against the same Corporate Debtor vide order dated 17.12.2019 in another petition, with Kanti Mohan Rustagi appointed as the Interim Resolution Professional (IRP). Neither Vivek Raheja nor the suspended management of Trading Engineers (International) Limited informed the Tribunal about the existing CIRP. The application in question was filed by Vivek Raheja under Section 60(5) of the Insolvency and
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CIRP initiated against Trading Engineers…
Another CIRP initiated…
The case involves an application filed by Vivek Raheja, the Resolution Professional of Trading Engineers (International) Limited, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the closure of the Corporate Insolvency Resolution Process (CIRP). A prior CIRP had already been initiated against the same Corporate Debtor, Trading Engineers (International) Limited, based on an order dated 04.07.2019. Subsequently, another CIRP was initiated against the same Corporate Debtor vide order dated 17.12.2019 in another petition. The Tribunal noted that neither the IRP (Vivek Raheja) nor the suspended management of the Corporate Debtor informed the Tribunal about the existing CIRP.
Vijay Purohit, the Financial Creditor, initiated a Corporate Insolvency Resolution Process (CIRP) against Trading Engineers (International) Limited, the Corporate Debtor. Vivek Raheja was appointed as the Resolution Professional (RP). The CIRP against Trading Engineers (International) Limited was initiated vide order dated 04.07.2019. Subsequently, another CIRP was initiated against the same Corporate Debtor vide order dated 17.12.2019 in another petition, with Kanti Mohan Rustagi appointed as the Interim Resolution Professional (IRP). Neither Vivek Raheja nor the suspended management of Trading Engineers (International) Limited informed the Tribunal about the existing CIRP. The application in question was filed by Vivek Raheja under Section 60(5) of the Insolvency and
…CIRP initiated against Trading Engineers…
Another CIRP initiated…