The case involves an application filed by Bank of India under Section 7 of the Insolvency & Bankruptcy Code, 2016, against White & Brown Alloy Castings Private Limited, the Corporate Debtor, for failure to repay an outstanding amount of Rs. 13,65,97,120.31. The Tribunal initiated the Corporate Insolvency Resolution Process (CIRP) on December 10, 2018, and appointed Mr. Anil Anchalia as the Interim Resolution Professional (IRP). The IRP submitted progress reports, highlighting issues such as the non-cooperation of the Corporate Debtor's promoter directors and the withdrawal of funds from Uco Bank after the CIRP's initiation. The invitation for Expression of Interest (EOI) was published, but only one EOI was received from the promoter director, Mr. Aniruddha
…Bank of India filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against White & Brown Alloy Castings Private Limited, claiming an outstanding debt of Rs. 13,65,97,120.31. The NCLT initiated CIRP on December 10, 2018, appointing Anil Anchalia as the IRP. The Corporate Debtor's promoter directors were uncooperative, and unauthorized withdrawals were made from the Corporate Debtor's accounts after the CIRP's initiation. The invitation for Expression of Interest (EOI) yielded only one response from the promoter director, Aniruddha Mukherjee. The Resolution Plan submitted by the promoter director was rejected by the CoC. The extended CIRP period expired on September 5, 2019, without a resolution. Aniruddha Mukherjee, the promoter and
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Tribunal passed the order of admission and…
The IRP filed its Ist Progress Report and…
The case involves an application filed by Bank of India under Section 7 of the Insolvency & Bankruptcy Code, 2016, against White & Brown Alloy Castings Private Limited, the Corporate Debtor, for failure to repay an outstanding amount of Rs. 13,65,97,120.31. The Tribunal initiated the Corporate Insolvency Resolution Process (CIRP) on December 10, 2018, and appointed Mr. Anil Anchalia as the Interim Resolution Professional (IRP). The IRP submitted progress reports, highlighting issues such as the non-cooperation of the Corporate Debtor's promoter directors and the withdrawal of funds from Uco Bank after the CIRP's initiation. The invitation for Expression of Interest (EOI) was published, but only one EOI was received from the promoter director, Mr. Aniruddha
…Bank of India filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against White & Brown Alloy Castings Private Limited, claiming an outstanding debt of Rs. 13,65,97,120.31. The NCLT initiated CIRP on December 10, 2018, appointing Anil Anchalia as the IRP. The Corporate Debtor's promoter directors were uncooperative, and unauthorized withdrawals were made from the Corporate Debtor's accounts after the CIRP's initiation. The invitation for Expression of Interest (EOI) yielded only one response from the promoter director, Aniruddha Mukherjee. The Resolution Plan submitted by the promoter director was rejected by the CoC. The extended CIRP period expired on September 5, 2019, without a resolution. Aniruddha Mukherjee, the promoter and
…Tribunal passed the order of admission and…
The IRP filed its Ist Progress Report and…