The case pertains to a company petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Hon'ble NCLAT had passed an order on 28.11.2022 in Company Appeal (AT) (Insolvency) No. 909 of 2022, titled 'Concept Group LLD vs. CNS Fashion Retail Pvt. Ltd.'
Concept Group Limited filed a petition against CNS Fashions Retail Private Limited under Section 9 of the IBC, 2016. The NCLAT had previously passed an order on 28.11.2022 in a related appeal. The petition was admitted, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) and the declaration of a moratorium. Since the Operational Creditor did not propose an IRP, the court appointed Mr. Prabhjit Singh Soni as the IRP. The Operational Creditor was directed to deposit Rs. 2,00,000 to cover immediate expenses.
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The Hon'ble NCLAT passed an order in Company…
The NCLT admitted the company petition,…
The case pertains to a company petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Hon'ble NCLAT had passed an order on 28.11.2022 in Company Appeal (AT) (Insolvency) No. 909 of 2022, titled 'Concept Group LLD vs. CNS Fashion Retail Pvt. Ltd.'
Concept Group Limited filed a petition against CNS Fashions Retail Private Limited under Section 9 of the IBC, 2016. The NCLAT had previously passed an order on 28.11.2022 in a related appeal. The petition was admitted, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) and the declaration of a moratorium. Since the Operational Creditor did not propose an IRP, the court appointed Mr. Prabhjit Singh Soni as the IRP. The Operational Creditor was directed to deposit Rs. 2,00,000 to cover immediate expenses.
The Hon'ble NCLAT passed an order in Company…
The NCLT admitted the company petition,…