The case involves an application (IA (IBC)/990/2023) filed by the Resolution Professional (RP) of the Corporate Debtor (CD), M/s. Ariston Pharma Novatech Private Limited, in the Corporate Insolvency Resolution Process (CIRP) under CP (IB) No.416/09/HDB/2020. The RP sought directions to release the attachment/lien/prohibition order on the CD's bank account (CA/5262) maintained with Andhra Pradesh Mahesh Co-Op Urban Bank Limited, Kukatpally Branch, and to allow the RP to take control of the account. The RP also requested unfreezing of the account and restraint of the Statutory Authority from further attachment or lien, along with updating the Authorized Signatory to operate the account.
The Corporate Debtor, M/s. Ariston Pharma Novatech Private Limited, is undergoing Corporate Insolvency Resolution Process (CIRP) initiated on 2023-01-18. Manjeet Bucha is the Resolution Professional (RP). The CD maintains a current account (CA/5262) with Andhra Pradesh Mahesh Co-Op Urban Bank Limited, Kukatpally Branch, holding a balance of Rs.26,18,114.70 as of 2022-11-28. Respondent No.2 (Office of Additional Superintendent of Police) directed Respondent No.1 to freeze the CD's account under Section 102 of the Criminal Procedure Code (CrPC), based on FIR Crime No. 1/21 under the NDPS Act against Mr. Vedprakash Vyas, a Suspended Board of Director of the CD, concerning MDMA drug. The RP informed Respondent No.2 about the CIRP initiation on 2023-05-18 and requested
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Corporate Insolvency Resolution Process (CIRP)…
The Resolution Professional (RP) informed…
The case involves an application (IA (IBC)/990/2023) filed by the Resolution Professional (RP) of the Corporate Debtor (CD), M/s. Ariston Pharma Novatech Private Limited, in the Corporate Insolvency Resolution Process (CIRP) under CP (IB) No.416/09/HDB/2020. The RP sought directions to release the attachment/lien/prohibition order on the CD's bank account (CA/5262) maintained with Andhra Pradesh Mahesh Co-Op Urban Bank Limited, Kukatpally Branch, and to allow the RP to take control of the account. The RP also requested unfreezing of the account and restraint of the Statutory Authority from further attachment or lien, along with updating the Authorized Signatory to operate the account.
The Corporate Debtor, M/s. Ariston Pharma Novatech Private Limited, is undergoing Corporate Insolvency Resolution Process (CIRP) initiated on 2023-01-18. Manjeet Bucha is the Resolution Professional (RP). The CD maintains a current account (CA/5262) with Andhra Pradesh Mahesh Co-Op Urban Bank Limited, Kukatpally Branch, holding a balance of Rs.26,18,114.70 as of 2022-11-28. Respondent No.2 (Office of Additional Superintendent of Police) directed Respondent No.1 to freeze the CD's account under Section 102 of the Criminal Procedure Code (CrPC), based on FIR Crime No. 1/21 under the NDPS Act against Mr. Vedprakash Vyas, a Suspended Board of Director of the CD, concerning MDMA drug. The RP informed Respondent No.2 about the CIRP initiation on 2023-05-18 and requested
…Corporate Insolvency Resolution Process (CIRP)…
The Resolution Professional (RP) informed…