The case involves an application filed by the Liquidator of M/s. Arohi Infrastructure Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking permission for the corporate debtor to exit the liquidation process, hand over control to the erstwhile management, absolve the liquidator of responsibilities, transfer shares held by the 1st respondent to the 4th respondent, and allow the 4th respondent to remove existing directors and appoint nominees. The Corporate Insolvency Resolution Process (CIRP) was initiated on 20.03.2018 following an application by the 1st respondent under Section 7 of the IBC, with the applicant appointed as the Interim Resolution Professional. A liquidation order was passed on 05.12.2018 due to the absence of a
…The Corporate Insolvency Resolution Process (CIRP) for Arohi Infrastructure Private Limited was initiated on 20.03.2018 based on an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Tata Capital Financial Services Private Limited (1st respondent). S. Rajendran was appointed as the Interim Resolution Professional and later as the Liquidator. A liquidation order was passed on 05.12.2018 due to the absence of a resolution plan. The Liquidator made public announcements, invited claims, and carried out asset valuations. Tata Capital Financial Services Private Limited submitted a claim of Rs.166,71,49,182/-, of which Rs. 129,42,67,603/- was admitted. Rabindra Kumar Samal (2nd respondent) filed a claim of Rs.9,50,000/-, which was fully admitted.
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Corporate Insolvency Resolution Process…
Liquidation order…
The case involves an application filed by the Liquidator of M/s. Arohi Infrastructure Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking permission for the corporate debtor to exit the liquidation process, hand over control to the erstwhile management, absolve the liquidator of responsibilities, transfer shares held by the 1st respondent to the 4th respondent, and allow the 4th respondent to remove existing directors and appoint nominees. The Corporate Insolvency Resolution Process (CIRP) was initiated on 20.03.2018 following an application by the 1st respondent under Section 7 of the IBC, with the applicant appointed as the Interim Resolution Professional. A liquidation order was passed on 05.12.2018 due to the absence of a
…The Corporate Insolvency Resolution Process (CIRP) for Arohi Infrastructure Private Limited was initiated on 20.03.2018 based on an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Tata Capital Financial Services Private Limited (1st respondent). S. Rajendran was appointed as the Interim Resolution Professional and later as the Liquidator. A liquidation order was passed on 05.12.2018 due to the absence of a resolution plan. The Liquidator made public announcements, invited claims, and carried out asset valuations. Tata Capital Financial Services Private Limited submitted a claim of Rs.166,71,49,182/-, of which Rs. 129,42,67,603/- was admitted. Rabindra Kumar Samal (2nd respondent) filed a claim of Rs.9,50,000/-, which was fully admitted.
…Corporate Insolvency Resolution Process…
Liquidation order…