The case involves an application filed by the Interim Resolution Professional/Resolution Professional under Section 66 read with Section 25(2)(j) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to alleged fraudulent transactions by the Corporate Debtor, AMR Infrastructures Limited, and its related party, RC Info Systems Ltd. (RCISL). The Adjudicating Authority had admitted the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) on 2018-05-10, following a petition by a financial creditor, Nikhil Mehta. The application alleges that the Corporate Debtor, through its promoters and directors, engaged in transactions designed to defraud creditors by diverting funds to RCISL, particularly concerning a lease deed with Greater Noida
…The Corporate Debtor, AMR Infrastructures Limited, faced Corporate Insolvency Resolution Process (CIRP) initiated by a financial creditor, Nikhil Mehta. The Interim Resolution Professional (IRP) discovered transactions that appeared to be fraudulent, involving the transfer of funds to RC Info Systems Ltd. (RCISL), a related party. RCISL had entered into a lease deed with Greater Noida Industrial Development Authority (GNOIDA) on 2006-07-21 for a plot of land (Plot No. Tz-09) in Greater Noida. The total consideration for the lease was Rs. 8,16,94,170/-, with Rs. 2,45,08,251/- paid upfront. A Memorandum of Understanding (MoU) dated 2006-07-31 was entered into between the Corporate Debtor and RCISL, where the Corporate Debtor was to develop the plot. The IRP alleged that
…Sign in to view the parties.
The financial statements of the Corporate…
RC Info Syste…
The case involves an application filed by the Interim Resolution Professional/Resolution Professional under Section 66 read with Section 25(2)(j) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to alleged fraudulent transactions by the Corporate Debtor, AMR Infrastructures Limited, and its related party, RC Info Systems Ltd. (RCISL). The Adjudicating Authority had admitted the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) on 2018-05-10, following a petition by a financial creditor, Nikhil Mehta. The application alleges that the Corporate Debtor, through its promoters and directors, engaged in transactions designed to defraud creditors by diverting funds to RCISL, particularly concerning a lease deed with Greater Noida
…The Corporate Debtor, AMR Infrastructures Limited, faced Corporate Insolvency Resolution Process (CIRP) initiated by a financial creditor, Nikhil Mehta. The Interim Resolution Professional (IRP) discovered transactions that appeared to be fraudulent, involving the transfer of funds to RC Info Systems Ltd. (RCISL), a related party. RCISL had entered into a lease deed with Greater Noida Industrial Development Authority (GNOIDA) on 2006-07-21 for a plot of land (Plot No. Tz-09) in Greater Noida. The total consideration for the lease was Rs. 8,16,94,170/-, with Rs. 2,45,08,251/- paid upfront. A Memorandum of Understanding (MoU) dated 2006-07-31 was entered into between the Corporate Debtor and RCISL, where the Corporate Debtor was to develop the plot. The IRP alleged that
…The financial statements of the Corporate…
RC Info Syste…