The case involves proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC). The erstwhile Resolution Professional (RP) was replaced, but the new RP has not received cooperation from the previous RP, including documents, assets, and information. This lack of cooperation hinders the Corporate Insolvency Resolution Process (CIRP). An application was filed under Section 19(2) of the IBC, 2016.
Bank of India filed an application under Section 7 of the IBC against Eskay K 'N' IT (India) Ltd. The erstwhile RP, who was later replaced, did not provide cooperation to the new RP, withholding documents, assets, and information. This lack of cooperation hindered the CIRP. An application was filed under Section 19(2) of the IBC, 2016. The court directed the present RP to file a complaint with the IBBI regarding the conduct of the replaced RP and expedite the resolution of the issue with the CoC. Applications were also filed by the RP under Section 33 IBC, 2016 (IA 526 of 2021) and by claimants whose claims have not been admitted/decided by the erstwhile RP (IA 393 of 2021).
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The case involves proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC). The erstwhile Resolution Professional (RP) was replaced, but the new RP has not received cooperation from the previous RP, including documents, assets, and information. This lack of cooperation hinders the Corporate Insolvency Resolution Process (CIRP). An application was filed under Section 19(2) of the IBC, 2016.
Bank of India filed an application under Section 7 of the IBC against Eskay K 'N' IT (India) Ltd. The erstwhile RP, who was later replaced, did not provide cooperation to the new RP, withholding documents, assets, and information. This lack of cooperation hindered the CIRP. An application was filed under Section 19(2) of the IBC, 2016. The court directed the present RP to file a complaint with the IBBI regarding the conduct of the replaced RP and expedite the resolution of the issue with the CoC. Applications were also filed by the RP under Section 33 IBC, 2016 (IA 526 of 2021) and by claimants whose claims have not been admitted/decided by the erstwhile RP (IA 393 of 2021).
Order date wh…
Order delivered…