The case involves a contempt application filed against the respondent, Sunil Kumar, for allegedly disobeying an order dated 25.11.2019 issued by the National Company Law Tribunal (NCLT). The order directed the respondent to deposit Rs. 2 lakhs as the initial cost of the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated based on a petition filed by Sunil Kumar under Section 9 of the Code against Nesa India Producer Company Limited. Sudhanshu Gupta was appointed as the Interim Resolution Professional (IRP).
Sunil Kumar, an operational creditor, filed a petition under Section 9 of the Code against Nesa India Producer Company Limited, leading to the initiation of CIRP. Sudhanshu Gupta was appointed as the IRP. The NCLT ordered Sunil Kumar to deposit Rs. 2 lakhs to cover the initial CIRP costs. The IRP made a public announcement as per IBBI regulations and requested claims. No claims were received, and the IRP faced difficulties in obtaining necessary documents and information from the corporate debtor. Sunil Kumar did not deposit the ordered amount, citing financial difficulties. The IRP contacted Sunil Kumar's counsel regarding the deposit. The NCLT found that Sunil Kumar had not provided a valid reason for not complying with the order.
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The Adjudicating Authority directed the…
Tribunal direc…
The case involves a contempt application filed against the respondent, Sunil Kumar, for allegedly disobeying an order dated 25.11.2019 issued by the National Company Law Tribunal (NCLT). The order directed the respondent to deposit Rs. 2 lakhs as the initial cost of the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated based on a petition filed by Sunil Kumar under Section 9 of the Code against Nesa India Producer Company Limited. Sudhanshu Gupta was appointed as the Interim Resolution Professional (IRP).
Sunil Kumar, an operational creditor, filed a petition under Section 9 of the Code against Nesa India Producer Company Limited, leading to the initiation of CIRP. Sudhanshu Gupta was appointed as the IRP. The NCLT ordered Sunil Kumar to deposit Rs. 2 lakhs to cover the initial CIRP costs. The IRP made a public announcement as per IBBI regulations and requested claims. No claims were received, and the IRP faced difficulties in obtaining necessary documents and information from the corporate debtor. Sunil Kumar did not deposit the ordered amount, citing financial difficulties. The IRP contacted Sunil Kumar's counsel regarding the deposit. The NCLT found that Sunil Kumar had not provided a valid reason for not complying with the order.
The Adjudicating Authority directed the…
Tribunal direc…