The case involves an application by the Resolution Professional of Earth Mover Consultancy Private Limited, a Corporate Debtor, under Section 49 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking directions regarding the promoters/directors and ex-employees of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2019-10-21. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor. A forensic audit revealed potential misappropriation of funds and preferential transactions.
The Corporate Insolvency Resolution Process (CIRP) of Earth Mover Consultancy Private Limited was initiated on 2019-10-21. Pramod Kumar Singh was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. A forensic audit conducted by M/s. DANSPARK & Co. revealed that the Corporate Debtor had disposed of assets without proper accounting and engaged in preferential transactions. The last audited accounts available were for the financial year 2011-12. In a CoC meeting held on 2020-01-31, the CoC resolved to liquidate the Corporate Debtor. The Resolution Professional filed an application for liquidation under Section 33(2) of the IBC. The respondents, who are the main promoters and suspended directors of the Corporate
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The case involves an application by the Resolution Professional of Earth Mover Consultancy Private Limited, a Corporate Debtor, under Section 49 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking directions regarding the promoters/directors and ex-employees of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2019-10-21. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor. A forensic audit revealed potential misappropriation of funds and preferential transactions.
The Corporate Insolvency Resolution Process (CIRP) of Earth Mover Consultancy Private Limited was initiated on 2019-10-21. Pramod Kumar Singh was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. A forensic audit conducted by M/s. DANSPARK & Co. revealed that the Corporate Debtor had disposed of assets without proper accounting and engaged in preferential transactions. The last audited accounts available were for the financial year 2011-12. In a CoC meeting held on 2020-01-31, the CoC resolved to liquidate the Corporate Debtor. The Resolution Professional filed an application for liquidation under Section 33(2) of the IBC. The respondents, who are the main promoters and suspended directors of the Corporate
…Adjudicating Authority passed an order for…
Order confirming the appointment of Interim…