The case involves an application (IA No. 275/JPR/2019) filed by the Resolution Professional (RP) of M/s Maximum Synthetics Pvt. Ltd. ('Corporate Debtor') under Section 19(2) of the Insolvency and Bankruptcy Code, 2016 ('IBC'). The RP sought directions from the Adjudicating Authority to compel the suspended directors of the Corporate Debtor to provide necessary documents, records, information, and cooperation for carrying out statutory duties under the IBC. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by Reliance Commercial Finance Limited ('Financial Creditor') under Section 7 of the IBC. An order for Liquidation was passed by this Authority on 09.02.2021 and Mr. Satyendra Prasad Khorania was appointed as the Liquidator.
Reliance Commercial Finance Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s Maximum Synthetics Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Rajiv Sharma was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Satyendra Prasad Khorania. The IRP requested documents and information from the Corporate Debtor's directors, but received no response. The Applicant (RP) intimated the replacement of the Resolution Professional and requested the Respondents to provide records, books of accounts, and other documents. Reminder emails were sent, but no information was provided. The RP found discrepancies in the stock levels at the production site. The Respondents claimed they provided
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CP No. (IB)- 17/7/JPR/20…
CIRP of the Co…
The case involves an application (IA No. 275/JPR/2019) filed by the Resolution Professional (RP) of M/s Maximum Synthetics Pvt. Ltd. ('Corporate Debtor') under Section 19(2) of the Insolvency and Bankruptcy Code, 2016 ('IBC'). The RP sought directions from the Adjudicating Authority to compel the suspended directors of the Corporate Debtor to provide necessary documents, records, information, and cooperation for carrying out statutory duties under the IBC. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by Reliance Commercial Finance Limited ('Financial Creditor') under Section 7 of the IBC. An order for Liquidation was passed by this Authority on 09.02.2021 and Mr. Satyendra Prasad Khorania was appointed as the Liquidator.
Reliance Commercial Finance Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s Maximum Synthetics Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Rajiv Sharma was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Satyendra Prasad Khorania. The IRP requested documents and information from the Corporate Debtor's directors, but received no response. The Applicant (RP) intimated the replacement of the Resolution Professional and requested the Respondents to provide records, books of accounts, and other documents. Reminder emails were sent, but no information was provided. The RP found discrepancies in the stock levels at the production site. The Respondents claimed they provided
…CP No. (IB)- 17/7/JPR/20…
CIRP of the Co…