The Interlocutory Application (IA 1415 of 2022) was filed by Surendra Kumar Bansal under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking certain permissions and approvals related to the e-auction process where the applicant was the successful bidder for the Corporate Debtor, Tulsi Extrusion Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on December 28, 2021, by Punjab National Bank under Section 7 of the IBC. Liquidation was initiated on February 20, 2021, and Amit C Poddar was appointed as the Liquidator. The liquidator opted to sell the Corporate Debtor as a going concern, and the applicant acquired the property through e-auction. The dispute revolves around the electricity dues claimed by
…Surendra Kumar Bansal, the Applicant, was the successful bidder in an e-auction for the sale of Tulsi Extrusion Limited, the Corporate Debtor, as a going concern on May 20, 2021. A Letter of Intent was issued on May 21, 2021. The Corporate Insolvency Resolution Process (CIRP) against Tulsi Extrusion Limited was initiated on December 28, 2021, by Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Liquidation was initiated on February 20, 2021, with Amit C Poddar as the Liquidator. The Liquidator opted to sell the Corporate Debtor as a going concern under Regulation 32(e) of the IBBI (Liquidation process) Regulations, 2016. The Applicant deposited an Earnest Money Deposit of INR 1,90,00,000 on May 18, 2021, and their bid of INR 20,32,00,000
…Sign in to view the parties.
The Applicant was the successful bidder of the…
Letter of Intent was…
The Interlocutory Application (IA 1415 of 2022) was filed by Surendra Kumar Bansal under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking certain permissions and approvals related to the e-auction process where the applicant was the successful bidder for the Corporate Debtor, Tulsi Extrusion Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on December 28, 2021, by Punjab National Bank under Section 7 of the IBC. Liquidation was initiated on February 20, 2021, and Amit C Poddar was appointed as the Liquidator. The liquidator opted to sell the Corporate Debtor as a going concern, and the applicant acquired the property through e-auction. The dispute revolves around the electricity dues claimed by
…Surendra Kumar Bansal, the Applicant, was the successful bidder in an e-auction for the sale of Tulsi Extrusion Limited, the Corporate Debtor, as a going concern on May 20, 2021. A Letter of Intent was issued on May 21, 2021. The Corporate Insolvency Resolution Process (CIRP) against Tulsi Extrusion Limited was initiated on December 28, 2021, by Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Liquidation was initiated on February 20, 2021, with Amit C Poddar as the Liquidator. The Liquidator opted to sell the Corporate Debtor as a going concern under Regulation 32(e) of the IBBI (Liquidation process) Regulations, 2016. The Applicant deposited an Earnest Money Deposit of INR 1,90,00,000 on May 18, 2021, and their bid of INR 20,32,00,000
…The Applicant was the successful bidder of the…
Letter of Intent was…