The case involves an application filed by the Resolution Professional (RP) of Amrit Fresh Pvt. Ltd. under Section 43 of the Insolvency and Bankruptcy Code, 2016, seeking to address preferential transactions. The Corporate Insolvency Resolution Process (CIRP) was initiated against Amrit Fresh Private Limited based on a petition filed by Bank of India under Section 7 of the Code. Niraj Agarwal was appointed as the Interim Resolution Professional and later as the Resolution Professional. The RP appointed ALP & Associates to conduct a transaction audit, which revealed certain preferential transactions. The RP then filed the present I.A. based on the audit report.
Bank of India initiated CIRP against Amrit Fresh Pvt. Ltd. under Section 7 of the IBC. Niraj Agarwal was appointed as the Resolution Professional (RP). The RP appointed ALP & Associates to conduct a transaction audit. The audit revealed preferential transactions. A payment of Rs.13.40 Lakh was made to Respondent No. 4, a related party of the Corporate Debtor. The Corporate Debtor also made a payment of Rs.2.50 Lakh to Respondent No. 5, another related party. Respondents No. 1, 4, and 5 are promoted by Harish Bagla and Archana Bagla, who are also Respondents No. 2 and 3 respectively. The management of the Corporate Debtor acknowledged that the payments were made to related parties. The RP formed an opinion on preferential transactions on 29 November, 2019, and
…Sign in to view the parties.
Adjudicating Authority…
Niraj Agarwal appointed…
The case involves an application filed by the Resolution Professional (RP) of Amrit Fresh Pvt. Ltd. under Section 43 of the Insolvency and Bankruptcy Code, 2016, seeking to address preferential transactions. The Corporate Insolvency Resolution Process (CIRP) was initiated against Amrit Fresh Private Limited based on a petition filed by Bank of India under Section 7 of the Code. Niraj Agarwal was appointed as the Interim Resolution Professional and later as the Resolution Professional. The RP appointed ALP & Associates to conduct a transaction audit, which revealed certain preferential transactions. The RP then filed the present I.A. based on the audit report.
Bank of India initiated CIRP against Amrit Fresh Pvt. Ltd. under Section 7 of the IBC. Niraj Agarwal was appointed as the Resolution Professional (RP). The RP appointed ALP & Associates to conduct a transaction audit. The audit revealed preferential transactions. A payment of Rs.13.40 Lakh was made to Respondent No. 4, a related party of the Corporate Debtor. The Corporate Debtor also made a payment of Rs.2.50 Lakh to Respondent No. 5, another related party. Respondents No. 1, 4, and 5 are promoted by Harish Bagla and Archana Bagla, who are also Respondents No. 2 and 3 respectively. The management of the Corporate Debtor acknowledged that the payments were made to related parties. The RP formed an opinion on preferential transactions on 29 November, 2019, and
…Adjudicating Authority…
Niraj Agarwal appointed…