The case involves an application filed under Section 65 and 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016, seeking orders and directions against Ace Resorts & Infrastructure Private Limited (Operational Creditor) and the Interim Resolution Professional (IRP) of Aakash Polyfilms Ltd. The applicant is a Director and Promoter of Aakash Polyfilms Ltd, which is the Corporate Debtor. The Tribunal had previously initiated Corporate Insolvency Resolution Process (CIRP) against Aakash Polyfilms Limited and appointed the IRP. A winding-up petition was already filed against Ace Resorts & Infrastructure Private Limited and admitted by the High Court of Gujarat. Ace Resorts & Infrastructure Private Limited filed an application
…1. An application was filed under Section 65 and 60(5) of the IBC, seeking orders against Ace Resorts & Infrastructure Private Limited (Operational Creditor) and the IRP of Aakash Polyfilms Ltd.
2. The Applicant is a Director and Promoter of Aakash Polyfilms Ltd, the Corporate Debtor.
3. The Tribunal had initiated CIRP against Aakash Polyfilms Limited and appointed the IRP on 10.03.2021.
4. A winding-up petition was already filed against Ace Resorts & Infrastructure Private Limited and admitted by the High Court of Gujarat.
5. Ace Resorts & Infrastructure Private Limited filed an application against the Corporate Debtor with fraudulent intention, suppressing facts.
6. Ace Resorts & Infrastructure Private Limited did not disclose the High Court's order
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Winding up petition against Respondent No.1…
Provisional Liquidator…
The case involves an application filed under Section 65 and 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016, seeking orders and directions against Ace Resorts & Infrastructure Private Limited (Operational Creditor) and the Interim Resolution Professional (IRP) of Aakash Polyfilms Ltd. The applicant is a Director and Promoter of Aakash Polyfilms Ltd, which is the Corporate Debtor. The Tribunal had previously initiated Corporate Insolvency Resolution Process (CIRP) against Aakash Polyfilms Limited and appointed the IRP. A winding-up petition was already filed against Ace Resorts & Infrastructure Private Limited and admitted by the High Court of Gujarat. Ace Resorts & Infrastructure Private Limited filed an application
…1. An application was filed under Section 65 and 60(5) of the IBC, seeking orders against Ace Resorts & Infrastructure Private Limited (Operational Creditor) and the IRP of Aakash Polyfilms Ltd.
2. The Applicant is a Director and Promoter of Aakash Polyfilms Ltd, the Corporate Debtor.
3. The Tribunal had initiated CIRP against Aakash Polyfilms Limited and appointed the IRP on 10.03.2021.
4. A winding-up petition was already filed against Ace Resorts & Infrastructure Private Limited and admitted by the High Court of Gujarat.
5. Ace Resorts & Infrastructure Private Limited filed an application against the Corporate Debtor with fraudulent intention, suppressing facts.
6. Ace Resorts & Infrastructure Private Limited did not disclose the High Court's order
Winding up petition against Respondent No.1…
Provisional Liquidator…