The case involves an application filed by the liquidator of Varrsana Ispat Limited, which is undergoing liquidation, seeking permission to sell the company's assets that were attached by the Directorate of Enforcement (ED). The Corporate Insolvency Resolution Process (CIRP) was initiated against Varrsana Ispat Limited on 16/11/2017, and liquidation was ordered on 06/08/2019 due to the absence of a resolution plan. The ED had attached the corporate debtor's assets based on allegations that they were proceeds of crime related to offenses committed by REI Agro Limited, a group company of the corporate debtor. The liquidator argues that Section 32A of the Insolvency and Bankruptcy Code (IBC), as amended, provides immunity against actions against the corporate debtor's
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Varrsana Ispat Limited on 16/11/2017, and liquidation was ordered on 06/08/2019 due to the absence of a resolution plan. The Directorate of Enforcement (ED) attached the corporate debtor's assets on 10/07/2017, alleging that they were proceeds of crime related to offenses committed by REI Agro Limited, a group company of the corporate debtor. The attached assets include land, building structures, and plant and machinery located in Varrsana, District-Kutch. The liquidator, Mr. Anil Goel, filed an application seeking permission to sell the attached assets, arguing that Section 32A of the Insolvency and Bankruptcy Code (IBC) provides immunity against actions against the corporate debtor's property.
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Corporate Insolvency Resolution Process…
Provisional Attachment order No. 08/2017 was…
The case involves an application filed by the liquidator of Varrsana Ispat Limited, which is undergoing liquidation, seeking permission to sell the company's assets that were attached by the Directorate of Enforcement (ED). The Corporate Insolvency Resolution Process (CIRP) was initiated against Varrsana Ispat Limited on 16/11/2017, and liquidation was ordered on 06/08/2019 due to the absence of a resolution plan. The ED had attached the corporate debtor's assets based on allegations that they were proceeds of crime related to offenses committed by REI Agro Limited, a group company of the corporate debtor. The liquidator argues that Section 32A of the Insolvency and Bankruptcy Code (IBC), as amended, provides immunity against actions against the corporate debtor's
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Varrsana Ispat Limited on 16/11/2017, and liquidation was ordered on 06/08/2019 due to the absence of a resolution plan. The Directorate of Enforcement (ED) attached the corporate debtor's assets on 10/07/2017, alleging that they were proceeds of crime related to offenses committed by REI Agro Limited, a group company of the corporate debtor. The attached assets include land, building structures, and plant and machinery located in Varrsana, District-Kutch. The liquidator, Mr. Anil Goel, filed an application seeking permission to sell the attached assets, arguing that Section 32A of the Insolvency and Bankruptcy Code (IBC) provides immunity against actions against the corporate debtor's property.
…Corporate Insolvency Resolution Process…
Provisional Attachment order No. 08/2017 was…