The case involves IA No. 1593/2022 and IA No. 135/2022 in CP (IB) No. 110/Chd/Hry/2019. The initial petition under Section 7 of IBC, 2016, was filed by Corporation Bank (later Union Bank of India) against NDT Trade House Private Limited, the Corporate Debtor. This petition was admitted on 2021-12-21, and an Interim Resolution Professional (IRP) was appointed. The IRP initiated the Corporate Insolvency Resolution Process (CIRP) and made public announcements to invite claims. A Committee of Creditors (CoC) was formed, consisting solely of Union Bank of India. Despite multiple attempts to solicit resolution plans, none were received. Consequently, the CoC resolved to liquidate the Corporate Debtor. IA No. 1593/2022 was filed for the liquidation order, and IA No. 135/2022
…Corporation Bank (later Union Bank of India) initiated Corporate Insolvency Resolution Process (CIRP) against NDT Trade House Private Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 2021-12-21. Arjun Gajwani was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting solely of Union Bank of India, with a claim of Rs. 9,84,70,215/-. Despite efforts to solicit resolution plans, including publishing Form G and granting extensions, no resolution plan was received. The CoC then resolved to liquidate the Corporate Debtor in its 8th meeting held on 2022-08-23. Arjun Gajwani
…Sign in to view the parties.
Corporate Ins…
Petition under Section 7 of IBC filed by Union…
The case involves IA No. 1593/2022 and IA No. 135/2022 in CP (IB) No. 110/Chd/Hry/2019. The initial petition under Section 7 of IBC, 2016, was filed by Corporation Bank (later Union Bank of India) against NDT Trade House Private Limited, the Corporate Debtor. This petition was admitted on 2021-12-21, and an Interim Resolution Professional (IRP) was appointed. The IRP initiated the Corporate Insolvency Resolution Process (CIRP) and made public announcements to invite claims. A Committee of Creditors (CoC) was formed, consisting solely of Union Bank of India. Despite multiple attempts to solicit resolution plans, none were received. Consequently, the CoC resolved to liquidate the Corporate Debtor. IA No. 1593/2022 was filed for the liquidation order, and IA No. 135/2022
…Corporation Bank (later Union Bank of India) initiated Corporate Insolvency Resolution Process (CIRP) against NDT Trade House Private Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 2021-12-21. Arjun Gajwani was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting solely of Union Bank of India, with a claim of Rs. 9,84,70,215/-. Despite efforts to solicit resolution plans, including publishing Form G and granting extensions, no resolution plan was received. The CoC then resolved to liquidate the Corporate Debtor in its 8th meeting held on 2022-08-23. Arjun Gajwani
…Corporate Ins…
Petition under Section 7 of IBC filed by Union…