The case involves an application (IA No. 71/2023) filed under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 31A (11) of the IBBI (Liquidation Process) Regulations, 2016. The applicant, M/s. Infokall Enterprise Solutions Limited, a financial creditor, sought the removal of Mr. Matta Pedda Srinivas, the Respondent No. 1/Liquidator, citing delays in conducting the liquidation process and violations of Regulation 31A(1) of the IBBI (Liquidation Process) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) against M/s. Bartronics Global Solutions Limited (Corporate Debtor/CD) was initiated via an order dated 04.08.2021. The liquidation process commenced on September 6, 2022, and the Resolution Professional was
…The financial creditor, M/s. Infokall Enterprise Solutions Limited, filed an application (IA No. 71/2023) seeking the removal of the liquidator, Mr. Matta Pedda Srinivas, of the corporate debtor, M/s. Bartronics Global Solutions Limited. The application was based on allegations of delays in the liquidation process and non-compliance with Regulation 31A(1) of the IBBI (Liquidation Process) Regulations, 2016, specifically the failure to constitute a Stakeholders Consultation Committee (SCC) within 60 days of the liquidation commencement date. The CIRP against the corporate debtor was initiated on 04.08.2021, and the liquidation process commenced on 06.09.2022, with the Respondent No. 1 being appointed as the liquidator. The respondent countered by alleging that the
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The application under Section 7 of the…
The IRP was co…
The case involves an application (IA No. 71/2023) filed under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 31A (11) of the IBBI (Liquidation Process) Regulations, 2016. The applicant, M/s. Infokall Enterprise Solutions Limited, a financial creditor, sought the removal of Mr. Matta Pedda Srinivas, the Respondent No. 1/Liquidator, citing delays in conducting the liquidation process and violations of Regulation 31A(1) of the IBBI (Liquidation Process) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) against M/s. Bartronics Global Solutions Limited (Corporate Debtor/CD) was initiated via an order dated 04.08.2021. The liquidation process commenced on September 6, 2022, and the Resolution Professional was
…The financial creditor, M/s. Infokall Enterprise Solutions Limited, filed an application (IA No. 71/2023) seeking the removal of the liquidator, Mr. Matta Pedda Srinivas, of the corporate debtor, M/s. Bartronics Global Solutions Limited. The application was based on allegations of delays in the liquidation process and non-compliance with Regulation 31A(1) of the IBBI (Liquidation Process) Regulations, 2016, specifically the failure to constitute a Stakeholders Consultation Committee (SCC) within 60 days of the liquidation commencement date. The CIRP against the corporate debtor was initiated on 04.08.2021, and the liquidation process commenced on 06.09.2022, with the Respondent No. 1 being appointed as the liquidator. The respondent countered by alleging that the
…The application under Section 7 of the…
The IRP was co…