The case involves an application (IA-2853/2022) in the matter of Singhal Pipers Pvt Ltd. Vs. LA- Residentia Developers Pvt Ltd. The applicant seeks closure of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 12A of the Insolvency and Bankruptcy Code (IBC) 2016. The application has been moved on behalf of the Suspended Board of Directors, instead of the Interim Resolution Professional (IRP).
Singhal Pipers Pvt Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against LA- Residentia Developers Pvt Ltd. An application (IA-2853/2022) has been filed seeking the closure of the CIRP under Section 12A of the IBC 2016. The application was filed by the Suspended Board of Directors, not the Interim Resolution Professional (IRP). The IRP, Mr. Naveen Kumar, is allegedly not cooperating in the filing of the application and has been made a respondent. The court has ordered notice to be served to the IRP and scheduled the matter before the Regular Bench on 05.07.2022. The case is being heard in the National Company Law Tribunal (NCLT), New Delhi, Court-III (Vacation Bench).
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The case involves an application (IA-2853/2022) in the matter of Singhal Pipers Pvt Ltd. Vs. LA- Residentia Developers Pvt Ltd. The applicant seeks closure of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 12A of the Insolvency and Bankruptcy Code (IBC) 2016. The application has been moved on behalf of the Suspended Board of Directors, instead of the Interim Resolution Professional (IRP).
Singhal Pipers Pvt Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against LA- Residentia Developers Pvt Ltd. An application (IA-2853/2022) has been filed seeking the closure of the CIRP under Section 12A of the IBC 2016. The application was filed by the Suspended Board of Directors, not the Interim Resolution Professional (IRP). The IRP, Mr. Naveen Kumar, is allegedly not cooperating in the filing of the application and has been made a respondent. The court has ordered notice to be served to the IRP and scheduled the matter before the Regular Bench on 05.07.2022. The case is being heard in the National Company Law Tribunal (NCLT), New Delhi, Court-III (Vacation Bench).
Order delive…
The matter is listed…