The case involves an application (IA-1360/2023) filed by Mr. Ganga Ram under Section 19(2) read with Section 70 of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the Corporate Insolvency Resolution Process (CIRP) of M/s. Presidium Educational Institution Private Limited. An application under Section 7 of the IBC was previously filed by Yes Bank Limited against the Corporate Debtor, which was admitted on 2022-11-29, leading to a moratorium and the appointment of Mr. Ganga Ram Agarwal as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP). The applicant sought directions to the respondents to provide information and documents necessary for the CIRP, as they allegedly failed to cooperate despite repeated
…Yes Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Presidium Educational Institution Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 2022-11-29, and a moratorium was declared. Mr. Ganga Ram Agarwal was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP filed an application (IA-1360/2023) seeking directions to the respondents (erstwhile directors and statutory auditor) to provide necessary information and documents for the CIRP. The RP claimed that the respondents failed to provide the requested information despite repeated reminders. The respondents denied the allegations, stating
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The case involves an application (IA-1360/2023) filed by Mr. Ganga Ram under Section 19(2) read with Section 70 of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the Corporate Insolvency Resolution Process (CIRP) of M/s. Presidium Educational Institution Private Limited. An application under Section 7 of the IBC was previously filed by Yes Bank Limited against the Corporate Debtor, which was admitted on 2022-11-29, leading to a moratorium and the appointment of Mr. Ganga Ram Agarwal as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP). The applicant sought directions to the respondents to provide information and documents necessary for the CIRP, as they allegedly failed to cooperate despite repeated
…Yes Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Presidium Educational Institution Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 2022-11-29, and a moratorium was declared. Mr. Ganga Ram Agarwal was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP filed an application (IA-1360/2023) seeking directions to the respondents (erstwhile directors and statutory auditor) to provide necessary information and documents for the CIRP. The RP claimed that the respondents failed to provide the requested information despite repeated reminders. The respondents denied the allegations, stating
…The Adjudicating Authority admitted the…
The Applicant made a Public Announcement under…