The case involves an application (IA No. 295/2021) filed by the Interim Resolution Professional (IRP) of Dawar International Electronics Private Limited, seeking directions to the suspended board of directors and Mr. Ajay Kumar Juneja to cooperate and hand over the assets of the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor on 2021-02-10. The IRP alleges non-cooperation from the directors and Mr. Juneja, who possesses the corporate debtor's property. Mr. Juneja claims ownership of the property based on an agreement to sell and a subsequent consent decree from a civil court.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Dawar International Electronics Private Limited on 2021-02-10. Mr. Ajay Kumar Siwach was appointed as the Interim Resolution Professional (IRP). The IRP sent an intimation letter to the corporate debtor's registered address, but it was returned undelivered. The IRP discovered that Mr. Ajay Kumar Juneja possessed the corporate debtor's property located at 5/5 Jacubpura, Gurgaon. Mr. Juneja claimed ownership based on an agreement to sell dated 2016-02-10, where he paid Rs. 2,42,00,000/- to the corporate debtor's loan account. The property was allegedly delivered to Mr. Juneja at the time of the agreement. IndusInd Bank issued a revised sanction letter after de-mortgaging the property. Mr. Juneja
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Respondent No. 3 entered…
IndusInd Bank issued a revised sanction…
The case involves an application (IA No. 295/2021) filed by the Interim Resolution Professional (IRP) of Dawar International Electronics Private Limited, seeking directions to the suspended board of directors and Mr. Ajay Kumar Juneja to cooperate and hand over the assets of the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor on 2021-02-10. The IRP alleges non-cooperation from the directors and Mr. Juneja, who possesses the corporate debtor's property. Mr. Juneja claims ownership of the property based on an agreement to sell and a subsequent consent decree from a civil court.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Dawar International Electronics Private Limited on 2021-02-10. Mr. Ajay Kumar Siwach was appointed as the Interim Resolution Professional (IRP). The IRP sent an intimation letter to the corporate debtor's registered address, but it was returned undelivered. The IRP discovered that Mr. Ajay Kumar Juneja possessed the corporate debtor's property located at 5/5 Jacubpura, Gurgaon. Mr. Juneja claimed ownership based on an agreement to sell dated 2016-02-10, where he paid Rs. 2,42,00,000/- to the corporate debtor's loan account. The property was allegedly delivered to Mr. Juneja at the time of the agreement. IndusInd Bank issued a revised sanction letter after de-mortgaging the property. Mr. Juneja
…Respondent No. 3 entered…
IndusInd Bank issued a revised sanction…