The case involves an application (IA No.912/2022) filed by the Interim Resolution Professional (IRP) of M/s Aryan Villa and Resorts LLP under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking replacement of the IRP. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Aryan Villa and Resorts LLP based on a petition filed by M/s Madhav Alloys Private Limited, an Operational Creditor, under Section 9 of the Code. The Adjudicating Authority had appointed the initial IRP because the operational creditor did not propose a name for the position.
M/s Madhav Alloys Private Limited, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Aryan Villa and Resorts LLP. The Adjudicating Authority appointed an Interim Resolution Professional (IRP) because the operational creditor did not propose a name. The current application, IA No.912/2022, was filed by the IRP seeking replacement due to a medical emergency in his family. The IRP, Mr. Vipul Garg, has not charged any fees and has not submitted Form 2. The IRP has no objection to being replaced. The Insolvency and Bankruptcy Board of India (IBBI) list provided shows Mr. Vanit Kumar Mittal's name at Serial No.8, valid until 31.12.2022. The Law Research Associate of the Tribunal checked Mr. Vanit Kumar Mittal's credentials and
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Corporate Ins…
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The case involves an application (IA No.912/2022) filed by the Interim Resolution Professional (IRP) of M/s Aryan Villa and Resorts LLP under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking replacement of the IRP. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Aryan Villa and Resorts LLP based on a petition filed by M/s Madhav Alloys Private Limited, an Operational Creditor, under Section 9 of the Code. The Adjudicating Authority had appointed the initial IRP because the operational creditor did not propose a name for the position.
M/s Madhav Alloys Private Limited, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Aryan Villa and Resorts LLP. The Adjudicating Authority appointed an Interim Resolution Professional (IRP) because the operational creditor did not propose a name. The current application, IA No.912/2022, was filed by the IRP seeking replacement due to a medical emergency in his family. The IRP, Mr. Vipul Garg, has not charged any fees and has not submitted Form 2. The IRP has no objection to being replaced. The Insolvency and Bankruptcy Board of India (IBBI) list provided shows Mr. Vanit Kumar Mittal's name at Serial No.8, valid until 31.12.2022. The Law Research Associate of the Tribunal checked Mr. Vanit Kumar Mittal's credentials and
…Corporate Ins…
Order passed by the…