The case involves an application filed by Kailash M. Kakrania and his wife, Manju Kailash Kakrania, under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Apurva Oil and Industries Private Limited. The application was initially rejected by the Tribunal due to the applicants not meeting the threshold prescribed under Section 4 of the Code.
Kailash M. Kakrania and Manju Kailash Kakrania filed an application under Section 7 of the IBC against Apurva Oil and Industries Private Limited.
The initial application was rejected by the Tribunal due to the applicants not meeting the threshold under Section 4 of the IBC.
The NCLAT set aside the rejection order and remanded the case back to the NCLT.
The NCLAT found that there was a financial debt of Rs. 1,01,50,009/-.
The Tribunal admitted the application for initiating CIRP against Apurva Oil and Industries Private Limited.
A moratorium was declared under Section 14 of the IBC.
Charudutt Pandhrinath Marathe was appointed as the Interim Resolution Professional (IRP).
The Financial Creditor was ordered to deposit Rs. 5,00,000/- to meet the initial CIRP costs.
…Sign in to view the parties.
C.P.No.986(MB)2021 was filed by Mr. Kailash…
The Application was rejected by this Tribunal…
The case involves an application filed by Kailash M. Kakrania and his wife, Manju Kailash Kakrania, under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Apurva Oil and Industries Private Limited. The application was initially rejected by the Tribunal due to the applicants not meeting the threshold prescribed under Section 4 of the Code.
Kailash M. Kakrania and Manju Kailash Kakrania filed an application under Section 7 of the IBC against Apurva Oil and Industries Private Limited.
The initial application was rejected by the Tribunal due to the applicants not meeting the threshold under Section 4 of the IBC.
The NCLAT set aside the rejection order and remanded the case back to the NCLT.
The NCLAT found that there was a financial debt of Rs. 1,01,50,009/-.
The Tribunal admitted the application for initiating CIRP against Apurva Oil and Industries Private Limited.
A moratorium was declared under Section 14 of the IBC.
Charudutt Pandhrinath Marathe was appointed as the Interim Resolution Professional (IRP).
The Financial Creditor was ordered to deposit Rs. 5,00,000/- to meet the initial CIRP costs.
…C.P.No.986(MB)2021 was filed by Mr. Kailash…
The Application was rejected by this Tribunal…