The case involves an application (IA No. 424/JPR/2019) filed by the Resolution Professional (RP) of Atlas Alloy (India) Pvt. Ltd. ('Corporate Debtor') under Section 19 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had previously admitted an application under Section 7 of the IBC filed by the Financial Creditor via an order dated 20.09.2019. The RP filed the application because the personnel of the corporate debtor were not extending their assistance and cooperation.
Atlas Alloy (India) Pvt. Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). Punjab National Bank is the Financial Creditor. Satyendra Prasad Khurania was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Adjudicating Authority admitted the application under Section 7 of the IBC filed by the Financial Creditor on 20.09.2019. The RP filed an application (IA No. 424/JPR/2019) under Section 19 of the IBC, alleging non-cooperation from the corporate debtor's personnel. The suspended directors (Respondents 1 and 2) denied the allegations, claiming suppression of material facts by the Financial Creditor and lack of information about the CIRP order. The Financial Creditor had taken possession of the
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The case involves an application (IA No. 424/JPR/2019) filed by the Resolution Professional (RP) of Atlas Alloy (India) Pvt. Ltd. ('Corporate Debtor') under Section 19 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had previously admitted an application under Section 7 of the IBC filed by the Financial Creditor via an order dated 20.09.2019. The RP filed the application because the personnel of the corporate debtor were not extending their assistance and cooperation.
Atlas Alloy (India) Pvt. Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). Punjab National Bank is the Financial Creditor. Satyendra Prasad Khurania was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Adjudicating Authority admitted the application under Section 7 of the IBC filed by the Financial Creditor on 20.09.2019. The RP filed an application (IA No. 424/JPR/2019) under Section 19 of the IBC, alleging non-cooperation from the corporate debtor's personnel. The suspended directors (Respondents 1 and 2) denied the allegations, claiming suppression of material facts by the Financial Creditor and lack of information about the CIRP order. The Financial Creditor had taken possession of the
…Balance sheet…
Annual General Meeting…