The case involves an application (IA-43/2022) against an order dated 17.09.2021 passed by the Regional Director (RD), Northern Region, which denied ARGL Limited's request to change its registered address. The applicant, now under new management due to a Corporate Insolvency Resolution Process (CIRP), argues that the RD's decision hinders the insolvency resolution process. The new management acquired the Respondent company via an order dated 02.12.2019.
The Union of India, through the Regional Director (Northern Region), initiated proceedings against Argl Ltd. The core issue revolves around an order passed by the RD on 17.09.2021, which rejected Argl Ltd.'s request to change its registered address. Argl Ltd. is undergoing a Corporate Insolvency Resolution Process (CIRP), with new management in place since 02.12.2019, following an order in CP (IB) No. 53(PB)/2017. The new management argues that the RD's refusal to allow the address change impedes their efforts to resolve the company's insolvency, potentially violating the spirit of the IBC, 2016, particularly Sections 7, 9 to 31. Section 32(A) of the IBC, 2016 provides immunity to the new management and the Corporate Debtor from certain liabilities. The applicant
…Sign in to view the parties.
The Regional Director (Northern Region) passed…
ARGL Limited was admitted into Corporate…
The case involves an application (IA-43/2022) against an order dated 17.09.2021 passed by the Regional Director (RD), Northern Region, which denied ARGL Limited's request to change its registered address. The applicant, now under new management due to a Corporate Insolvency Resolution Process (CIRP), argues that the RD's decision hinders the insolvency resolution process. The new management acquired the Respondent company via an order dated 02.12.2019.
The Union of India, through the Regional Director (Northern Region), initiated proceedings against Argl Ltd. The core issue revolves around an order passed by the RD on 17.09.2021, which rejected Argl Ltd.'s request to change its registered address. Argl Ltd. is undergoing a Corporate Insolvency Resolution Process (CIRP), with new management in place since 02.12.2019, following an order in CP (IB) No. 53(PB)/2017. The new management argues that the RD's refusal to allow the address change impedes their efforts to resolve the company's insolvency, potentially violating the spirit of the IBC, 2016, particularly Sections 7, 9 to 31. Section 32(A) of the IBC, 2016 provides immunity to the new management and the Corporate Debtor from certain liabilities. The applicant
…The Regional Director (Northern Region) passed…
ARGL Limited was admitted into Corporate…