The National Company Law Tribunal (NCLT), Chandigarh Court-II, heard applications IA(I.B.C)/1176 (CH)2024, IA(I.B.C)/2927 (CH)2023 and IA(I.B.C)/1275 (CH)2024 in relation to CP (IB) No. 147/Chd/Pb/2023, an admitted insolvency case. Sapna Cars Private Limited is the financial creditor, and Padam Motors Private Limited is the corporate debtor. The applications involve the replacement of the liquidator and related matters under the Insolvency and Bankruptcy Code (IBC), 2016 and IBBI regulations.
Sapna Cars Private Limited initiated insolvency proceedings against Padam Motors Private Limited under the IBC, 2016. CP (IB) No. 147/Chd/Pb/2023 was admitted. Mr. Somnath Gupta was initially appointed as the liquidator. During the liquidation process, the 2nd meeting of the Stakeholders Consultation Committee (SCC) decided to replace Mr. Somnath Gupta with Mr. Ankur Tayal as the liquidator. Applications IA(I.B.C)/1176 (CH)2024 and IA(I.B.C)/1275 (CH)2024 were filed to facilitate this replacement. The learned counsel for the liquidator endorsed no objection to the replacement. The tribunal considered these applications, along with IA(I.B.C)/2927 (CH)2023, which pertained to an earlier application filed under Section 19(2) of the IBC. The tribunal directed the new
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Insolvency cas…
Order delivered on IA(I.B.C)/1176 (CH)2024,…
The National Company Law Tribunal (NCLT), Chandigarh Court-II, heard applications IA(I.B.C)/1176 (CH)2024, IA(I.B.C)/2927 (CH)2023 and IA(I.B.C)/1275 (CH)2024 in relation to CP (IB) No. 147/Chd/Pb/2023, an admitted insolvency case. Sapna Cars Private Limited is the financial creditor, and Padam Motors Private Limited is the corporate debtor. The applications involve the replacement of the liquidator and related matters under the Insolvency and Bankruptcy Code (IBC), 2016 and IBBI regulations.
Sapna Cars Private Limited initiated insolvency proceedings against Padam Motors Private Limited under the IBC, 2016. CP (IB) No. 147/Chd/Pb/2023 was admitted. Mr. Somnath Gupta was initially appointed as the liquidator. During the liquidation process, the 2nd meeting of the Stakeholders Consultation Committee (SCC) decided to replace Mr. Somnath Gupta with Mr. Ankur Tayal as the liquidator. Applications IA(I.B.C)/1176 (CH)2024 and IA(I.B.C)/1275 (CH)2024 were filed to facilitate this replacement. The learned counsel for the liquidator endorsed no objection to the replacement. The tribunal considered these applications, along with IA(I.B.C)/2927 (CH)2023, which pertained to an earlier application filed under Section 19(2) of the IBC. The tribunal directed the new
…Insolvency cas…
Order delivered on IA(I.B.C)/1176 (CH)2024,…