The case involves Pentax Ferro Incorporate as the applicant and Trako Infra (India) Pvt Ltd as the respondent. The matter pertains to a Corporate Insolvency Resolution Process (CIRP) under the provisions of the IBC. Orders were previously issued directing the Resolution Professional (RP) to conduct the CIRP, but the RP has not taken any steps. The Tribunal is forwarding the orders to the IBBI for appropriate action.
Pentax Ferro Incorporate initiated a Corporate Insolvency Resolution Process (CIRP) against Trako Infra (India) Pvt Ltd. The Tribunal issued orders on 2024-02-16 and 2024-05-21, directing the Resolution Professional (RP) to conduct the CIRP in accordance with the IBC. However, the RP did not appear before the Tribunal, and no steps were taken to progress the CIRP. The RP, Mr. Rajeev Nandkishore Bhatia, was warned on 2023-08-21 for non-appearance. The application has been pending since 2020. Due to the RP's continued absence and inaction, the Tribunal dismissed the application for non-prosecution. The Tribunal has directed the registry to forward copies of the orders to the IBBI.
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The applicati…
The RP was war…
The case involves Pentax Ferro Incorporate as the applicant and Trako Infra (India) Pvt Ltd as the respondent. The matter pertains to a Corporate Insolvency Resolution Process (CIRP) under the provisions of the IBC. Orders were previously issued directing the Resolution Professional (RP) to conduct the CIRP, but the RP has not taken any steps. The Tribunal is forwarding the orders to the IBBI for appropriate action.
Pentax Ferro Incorporate initiated a Corporate Insolvency Resolution Process (CIRP) against Trako Infra (India) Pvt Ltd. The Tribunal issued orders on 2024-02-16 and 2024-05-21, directing the Resolution Professional (RP) to conduct the CIRP in accordance with the IBC. However, the RP did not appear before the Tribunal, and no steps were taken to progress the CIRP. The RP, Mr. Rajeev Nandkishore Bhatia, was warned on 2023-08-21 for non-appearance. The application has been pending since 2020. Due to the RP's continued absence and inaction, the Tribunal dismissed the application for non-prosecution. The Tribunal has directed the registry to forward copies of the orders to the IBBI.
The applicati…
The RP was war…