The case involves an application (IA-4307/2022) filed by the Union Bank of India, along with the consent of the Bank of Maharashtra, seeking the appointment of a liquidator. The banks/financial creditors constitute 100% of the voting share of the Committee of Creditors (CoC). The application was made due to the demise of the previous liquidator, Shri Navjit Singh. Additionally, an Intervention Petition-24/2022 was filed by Mr. Satish Kumar, an ex-employee of the Corporate Debtor.
Union Bank of India, along with Bank of Maharashtra, filed an application (IA-4307/2022) seeking the appointment of a liquidator. These banks/financial creditors represent 100% of the voting share of the CoC. The need for a new liquidator arose due to the demise of the previous liquidator, Shri Navjit Singh. Ms. Reshma Mittal was proposed as the new liquidator, possessing IBBI Registration No. IBBI/IPA-001/IP00297/2017-18/10541. Mr. Satish Kumar, an ex-employee of the Corporate Debtor, filed an Intervention Petition-24/2022. The relevance of the fact that the banks constitute 100% of the CoC is that it demonstrates their unanimous agreement on the appointment of the liquidator. The fact that the previous liquidator passed away necessitates the appointment of a new
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Order delivere…
The case involves an application (IA-4307/2022) filed by the Union Bank of India, along with the consent of the Bank of Maharashtra, seeking the appointment of a liquidator. The banks/financial creditors constitute 100% of the voting share of the Committee of Creditors (CoC). The application was made due to the demise of the previous liquidator, Shri Navjit Singh. Additionally, an Intervention Petition-24/2022 was filed by Mr. Satish Kumar, an ex-employee of the Corporate Debtor.
Union Bank of India, along with Bank of Maharashtra, filed an application (IA-4307/2022) seeking the appointment of a liquidator. These banks/financial creditors represent 100% of the voting share of the CoC. The need for a new liquidator arose due to the demise of the previous liquidator, Shri Navjit Singh. Ms. Reshma Mittal was proposed as the new liquidator, possessing IBBI Registration No. IBBI/IPA-001/IP00297/2017-18/10541. Mr. Satish Kumar, an ex-employee of the Corporate Debtor, filed an Intervention Petition-24/2022. The relevance of the fact that the banks constitute 100% of the CoC is that it demonstrates their unanimous agreement on the appointment of the liquidator. The fact that the previous liquidator passed away necessitates the appointment of a new
…Order delivere…