An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Vinnarasi Industries (Financial Creditor) against UT LTD (Corporate Debtor). The application was admitted, and CIRP commenced on February 28, 2020. A moratorium was declared. Mr. Pranab Kumar Chakrabarty was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement and formed a Committee of Creditors (CoC), with M/s Antriksh Vyapaar Ltd as the sole member holding 100% voting rights. The CoC, in its meeting on July 1, 2020, did not confirm the appointment of the IRP as RP and instead proposed Mr. Kamal Nayan Jain as the Resolution Professional (RP).
Vinnarasi Industries, as the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against UT LTD, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP commenced on February 28, 2020, and a moratorium was imposed. Mr. Pranab Kumar Chakrabarty was appointed as the Interim Resolution Professional (IRP). The IRP formed a Committee of Creditors (CoC), with M/s Antriksh Vyapaar Ltd as the sole member holding 100% voting rights. In its meeting on July 1, 2020, the CoC resolved to replace the IRP with Mr. Kamal Nayan Jain as the Resolution Professional (RP). The CoC also approved the fees for the erstwhile IRP. The CoC filed an application before the NCLT seeking approval for the appointment of the proposed RP. The
…Sign in to view the parties.
Corporate Insolvency…
Committee of Creditors…
An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Vinnarasi Industries (Financial Creditor) against UT LTD (Corporate Debtor). The application was admitted, and CIRP commenced on February 28, 2020. A moratorium was declared. Mr. Pranab Kumar Chakrabarty was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement and formed a Committee of Creditors (CoC), with M/s Antriksh Vyapaar Ltd as the sole member holding 100% voting rights. The CoC, in its meeting on July 1, 2020, did not confirm the appointment of the IRP as RP and instead proposed Mr. Kamal Nayan Jain as the Resolution Professional (RP).
Vinnarasi Industries, as the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against UT LTD, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP commenced on February 28, 2020, and a moratorium was imposed. Mr. Pranab Kumar Chakrabarty was appointed as the Interim Resolution Professional (IRP). The IRP formed a Committee of Creditors (CoC), with M/s Antriksh Vyapaar Ltd as the sole member holding 100% voting rights. In its meeting on July 1, 2020, the CoC resolved to replace the IRP with Mr. Kamal Nayan Jain as the Resolution Professional (RP). The CoC also approved the fees for the erstwhile IRP. The CoC filed an application before the NCLT seeking approval for the appointment of the proposed RP. The
…Corporate Insolvency…
Committee of Creditors…