The case involves two Interlocutory Applications (IAs). IA 318/2022 was filed by Power Grid Corporation of India Limited seeking condonation of delay in filing a claim against the liquidator of BS Ltd. IA 143/2020 was filed by Aparna Constructions and Estates Pvt. Ltd. against BS Limited, the Corporate Debtor (CD), seeking directions for the Liquidator to remove its name from the list of Trade Debtors/Trade Receivables/debit balances. The CIRP against BS Limited commenced on 01.11.2018, and a liquidator was appointed after the rejection of the resolution plan. The Resolution Professional (RP) identified an invoice suggesting an amount receivable from Aparna Constructions, which Aparna denied. The liquidator continued to rely on the documents obtained from CD's records
…The Corporate Insolvency Resolution Process (CIRP) against BS Limited commenced on 01.11.2018. A Resolution Professional (RP) was appointed, and later a Liquidator was appointed after the rejection of the resolution plan. During the CIRP, the RP identified an invoice dated 17.12.2015 suggesting that Aparna Constructions and Estates Pvt. Ltd. owed Rs.11,72,41,124/- to BS Limited. Aparna Constructions denied any relationship with BS Limited and did not acknowledge the debt. The RP presented a computer-generated tally accounting package unsigned ledger statement. Aparna Constructions requested a certified copy of the purchase order but received no response. Subsequently, on 20.12.2019, Aparna Constructions received a notice for payment of dues from the Liquidator and
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Corporate Insolvency…
An order for Liquidation was passed by the…
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The case involves two Interlocutory Applications (IAs). IA 318/2022 was filed by Power Grid Corporation of India Limited seeking condonation of delay in filing a claim against the liquidator of BS Ltd. IA 143/2020 was filed by Aparna Constructions and Estates Pvt. Ltd. against BS Limited, the Corporate Debtor (CD), seeking directions for the Liquidator to remove its name from the list of Trade Debtors/Trade Receivables/debit balances. The CIRP against BS Limited commenced on 01.11.2018, and a liquidator was appointed after the rejection of the resolution plan. The Resolution Professional (RP) identified an invoice suggesting an amount receivable from Aparna Constructions, which Aparna denied. The liquidator continued to rely on the documents obtained from CD's records
…The Corporate Insolvency Resolution Process (CIRP) against BS Limited commenced on 01.11.2018. A Resolution Professional (RP) was appointed, and later a Liquidator was appointed after the rejection of the resolution plan. During the CIRP, the RP identified an invoice dated 17.12.2015 suggesting that Aparna Constructions and Estates Pvt. Ltd. owed Rs.11,72,41,124/- to BS Limited. Aparna Constructions denied any relationship with BS Limited and did not acknowledge the debt. The RP presented a computer-generated tally accounting package unsigned ledger statement. Aparna Constructions requested a certified copy of the purchase order but received no response. Subsequently, on 20.12.2019, Aparna Constructions received a notice for payment of dues from the Liquidator and
…Corporate Insolvency…
An order for Liquidation was passed by the…
Sign in to view related legal provisions.