The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Yashoda Cotton & General Mills Pvt. Ltd. based on an application filed by an Operational Creditor, Kapil Dev Kansal. The petition was admitted on 28.11.2017, and a moratorium was declared. Initially, Mr. Manjul Mittal was appointed as the Interim Resolution Professional (IRP). Subsequently, due to the Committee of Creditors' (COC) decision, Mr. Sanjay Kumar Aggarwal was appointed as the Resolution Professional (RP). The COC, primarily formed by Punjab National Bank, decided to seek liquidation of the corporate debtor as no resolution plan was received. The RP also filed CA No.16/2018 under Section 19(2) and (3) of the Code alleging non-cooperation from the promoter directors in
…Kapil Dev Kansal, an Operational Creditor, initiated CIRP against Yashoda Cotton & General Mills Pvt. Ltd. The petition was admitted on 2017-11-28. Mr. Manjul Mittal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sanjay Kumar Aggarwal as the Resolution Professional (RP). Punjab National Bank was the sole financial creditor, forming the Committee of Creditors (COC). The COC decided to shift the registered office of the company, but the respondents (promoter directors) did not cooperate by providing digital signatures. No resolution plan was received despite invitations. The COC, with 100% voting, resolved to liquidate the corporate debtor. The RP filed CA No.16/2018 alleging non-cooperation from the promoter directors in
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The petition filed by the Operational Creditor,…
Mr. Manjul Mittal was…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Yashoda Cotton & General Mills Pvt. Ltd. based on an application filed by an Operational Creditor, Kapil Dev Kansal. The petition was admitted on 28.11.2017, and a moratorium was declared. Initially, Mr. Manjul Mittal was appointed as the Interim Resolution Professional (IRP). Subsequently, due to the Committee of Creditors' (COC) decision, Mr. Sanjay Kumar Aggarwal was appointed as the Resolution Professional (RP). The COC, primarily formed by Punjab National Bank, decided to seek liquidation of the corporate debtor as no resolution plan was received. The RP also filed CA No.16/2018 under Section 19(2) and (3) of the Code alleging non-cooperation from the promoter directors in
…Kapil Dev Kansal, an Operational Creditor, initiated CIRP against Yashoda Cotton & General Mills Pvt. Ltd. The petition was admitted on 2017-11-28. Mr. Manjul Mittal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sanjay Kumar Aggarwal as the Resolution Professional (RP). Punjab National Bank was the sole financial creditor, forming the Committee of Creditors (COC). The COC decided to shift the registered office of the company, but the respondents (promoter directors) did not cooperate by providing digital signatures. No resolution plan was received despite invitations. The COC, with 100% voting, resolved to liquidate the corporate debtor. The RP filed CA No.16/2018 alleging non-cooperation from the promoter directors in
…The petition filed by the Operational Creditor,…
Mr. Manjul Mittal was…