The case involves an application filed by the applicant, who is the IRP (Interim Resolution Professional) now liquidator, under Section 19(2) r/w 19(3) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of NCLT Rules, 2016. The applicant seeks directions to the directors/personnel/statutory auditors of the respondents to comply with the applicant's instructions and provide necessary information for discharging duties as an IRP. The CIRP (Corporate Insolvency Resolution Process) of the corporate debtor was initiated on 2020-12-01, and the applicant was appointed as IRP on the same date. The respondents, including ex-directors and the auditor of the company, allegedly failed to provide the required documents and information despite repeated reminders. The applicant
…The Corporate Insolvency Resolution Process (CIRP) of Gem Batteries Pvt. Ltd. was initiated on 2020-12-01, and Chandra Prakash was appointed as the Interim Resolution Professional (IRP). The IRP made public announcements and sent emails to the suspended directors requesting necessary documents for the CIRP. Despite repeated reminders, the respondents, including ex-directors Rahul Gupta and Divya Gupta, and auditor Mahesh Aggarwal, failed to provide the required information. The applicant filed an application under Section 19(2) r/w 19(3) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of NCLT Rules, 2016, seeking directions for the respondents to comply with instructions and provide requisite information. The respondents claimed that the information was
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Corporate Insolvency…
Chandra Prakash…
The case involves an application filed by the applicant, who is the IRP (Interim Resolution Professional) now liquidator, under Section 19(2) r/w 19(3) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of NCLT Rules, 2016. The applicant seeks directions to the directors/personnel/statutory auditors of the respondents to comply with the applicant's instructions and provide necessary information for discharging duties as an IRP. The CIRP (Corporate Insolvency Resolution Process) of the corporate debtor was initiated on 2020-12-01, and the applicant was appointed as IRP on the same date. The respondents, including ex-directors and the auditor of the company, allegedly failed to provide the required documents and information despite repeated reminders. The applicant
…The Corporate Insolvency Resolution Process (CIRP) of Gem Batteries Pvt. Ltd. was initiated on 2020-12-01, and Chandra Prakash was appointed as the Interim Resolution Professional (IRP). The IRP made public announcements and sent emails to the suspended directors requesting necessary documents for the CIRP. Despite repeated reminders, the respondents, including ex-directors Rahul Gupta and Divya Gupta, and auditor Mahesh Aggarwal, failed to provide the required information. The applicant filed an application under Section 19(2) r/w 19(3) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of NCLT Rules, 2016, seeking directions for the respondents to comply with instructions and provide requisite information. The respondents claimed that the information was
…Corporate Insolvency…
Chandra Prakash…