The case involves an application filed under Section 50 of the Insolvency and Bankruptcy Code (IBC) 2016, seeking a declaration of extortionate credit transactions and the return of amounts. The Corporate Insolvency Resolution Process (CIRP) was initiated against Tenny Jose Limited following a petition filed by Korea Trade Insurance Corporation under Section 9 of the IBC on December 21, 2021. Prathap Pillai was appointed as the Resolution Professional (RP) after Mr. Krishna Raj served as the Interim Resolution Professional. The RP appointed M/s. Jackson Abraham Thekkekara as a forensic auditor, who submitted a report on June 4, 2022, which was then served to the former directors of the corporate debtor for their objections.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Tenny Jose Limited on December 21, 2021, based on a petition filed by Korea Trade Insurance Corporation. Prathap Pillai was appointed as the Resolution Professional (RP) on March 14, 2022, after Mr. Krishna Raj served as the Interim Resolution Professional. The RP appointed M/s. Jackson Abraham Thekkekara as a forensic auditor, who submitted a report on June 4, 2022. The RP filed an application under Section 50 of the IBC, alleging that Tenny Jose, the respondent, engaged in extortionate credit transactions by providing an unsecured loan to the corporate debtor with a high interest rate. The financial statements for 2016-2017 and 2017-2018 showed interest payments of Rs. 23.26 lakhs and Rs. 18.07
…Sign in to view the parties.
Corporate deb…
Prathap Pillai…
The case involves an application filed under Section 50 of the Insolvency and Bankruptcy Code (IBC) 2016, seeking a declaration of extortionate credit transactions and the return of amounts. The Corporate Insolvency Resolution Process (CIRP) was initiated against Tenny Jose Limited following a petition filed by Korea Trade Insurance Corporation under Section 9 of the IBC on December 21, 2021. Prathap Pillai was appointed as the Resolution Professional (RP) after Mr. Krishna Raj served as the Interim Resolution Professional. The RP appointed M/s. Jackson Abraham Thekkekara as a forensic auditor, who submitted a report on June 4, 2022, which was then served to the former directors of the corporate debtor for their objections.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Tenny Jose Limited on December 21, 2021, based on a petition filed by Korea Trade Insurance Corporation. Prathap Pillai was appointed as the Resolution Professional (RP) on March 14, 2022, after Mr. Krishna Raj served as the Interim Resolution Professional. The RP appointed M/s. Jackson Abraham Thekkekara as a forensic auditor, who submitted a report on June 4, 2022. The RP filed an application under Section 50 of the IBC, alleging that Tenny Jose, the respondent, engaged in extortionate credit transactions by providing an unsecured loan to the corporate debtor with a high interest rate. The financial statements for 2016-2017 and 2017-2018 showed interest payments of Rs. 23.26 lakhs and Rs. 18.07
…Corporate deb…
Prathap Pillai…