The case involves an application filed under Section 14 r/w Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the Corporate Insolvency Resolution Process (CIRP) of Jassum Propcon Projects Private Limited. Jagat Pal Paliwal & Anr., as Financial Creditors, initiated CIRP under Section 7 of the Insolvency & Bankruptcy Code. The Tribunal initiated CIRP on 31.10.2019 and appointed Sapan Mohan Garg as the Interim Resolution Professional (IRP). The IRP requested Corporation Bank and RBL Bank to provide copies of CBI notices that directed the freezing of the Corporate Debtor's bank accounts. The Ministry of Corporate Affairs also directed the banks to freeze accounts of companies struck off under Section 248 of the Companies Act,
…Jagat Pal Paliwal & Anr., as Financial Creditors, initiated Corporate Insolvency Resolution Process (CIRP) against Jassum Propcon Projects Private Limited (Corporate Debtor) under Section 7 of the Insolvency & Bankruptcy Code (IBC). The National Company Law Tribunal (NCLT) initiated CIRP on 31.10.2019 and appointed Sapan Mohan Garg as the Interim Resolution Professional (IRP). The IRP discovered that the Corporate Debtor's bank accounts were frozen based on instructions from the Central Bureau of Investigation (CBI) and the Ministry of Corporate Affairs (MCA). Corporation Bank and RBL Bank, the banks holding the accounts, were intimated of the CIRP commencement. The IRP requested copies of the CBI notices directing the freeze but did not receive them. The MCA
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Company Petition No.…
Tribunal initia…
The case involves an application filed under Section 14 r/w Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the Corporate Insolvency Resolution Process (CIRP) of Jassum Propcon Projects Private Limited. Jagat Pal Paliwal & Anr., as Financial Creditors, initiated CIRP under Section 7 of the Insolvency & Bankruptcy Code. The Tribunal initiated CIRP on 31.10.2019 and appointed Sapan Mohan Garg as the Interim Resolution Professional (IRP). The IRP requested Corporation Bank and RBL Bank to provide copies of CBI notices that directed the freezing of the Corporate Debtor's bank accounts. The Ministry of Corporate Affairs also directed the banks to freeze accounts of companies struck off under Section 248 of the Companies Act,
…Jagat Pal Paliwal & Anr., as Financial Creditors, initiated Corporate Insolvency Resolution Process (CIRP) against Jassum Propcon Projects Private Limited (Corporate Debtor) under Section 7 of the Insolvency & Bankruptcy Code (IBC). The National Company Law Tribunal (NCLT) initiated CIRP on 31.10.2019 and appointed Sapan Mohan Garg as the Interim Resolution Professional (IRP). The IRP discovered that the Corporate Debtor's bank accounts were frozen based on instructions from the Central Bureau of Investigation (CBI) and the Ministry of Corporate Affairs (MCA). Corporation Bank and RBL Bank, the banks holding the accounts, were intimated of the CIRP commencement. The IRP requested copies of the CBI notices directing the freeze but did not receive them. The MCA
…Company Petition No.…
Tribunal initia…