The Resolution Professional (RP) of Good Day Ventures (India) Private Limited (Corporate Debtor) filed an application under Section 60(5) read with Sections 45 and 46 of the Insolvency and Bankruptcy Code, 2016, seeking to set aside the transfer of shares owned by the Corporate Debtor in Respondent No.1 Company and direct the transfer of shares back to the Corporate Debtor.
The Corporate Insolvency Resolution Process (CIRP) in respect of Good Day Ventures (India) Private Limited was initiated on 05.12.2019.
Prashant Jain was appointed as the Interim Resolution Professional (IRP) on 23.11.2020 and later confirmed as the Resolution Professional (RP).
Good Day Ventures (India) Private Limited held 50% of the total shareholding in Natural Life Speciality Private Limited since 2015.
The Corporate Debtor allegedly transferred its equity in Natural Life Speciality Private Limited on 31.08.2019 to Respondent Nos. 3 and 4.
The Applicant contends that the transfer of shares was done without proper valuation and with the intention to defraud creditors.
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Corporate Insolvency Resolution Process (CIRP)…
Alleged transfer of…
The Resolution Professional (RP) of Good Day Ventures (India) Private Limited (Corporate Debtor) filed an application under Section 60(5) read with Sections 45 and 46 of the Insolvency and Bankruptcy Code, 2016, seeking to set aside the transfer of shares owned by the Corporate Debtor in Respondent No.1 Company and direct the transfer of shares back to the Corporate Debtor.
The Corporate Insolvency Resolution Process (CIRP) in respect of Good Day Ventures (India) Private Limited was initiated on 05.12.2019.
Prashant Jain was appointed as the Interim Resolution Professional (IRP) on 23.11.2020 and later confirmed as the Resolution Professional (RP).
Good Day Ventures (India) Private Limited held 50% of the total shareholding in Natural Life Speciality Private Limited since 2015.
The Corporate Debtor allegedly transferred its equity in Natural Life Speciality Private Limited on 31.08.2019 to Respondent Nos. 3 and 4.
The Applicant contends that the transfer of shares was done without proper valuation and with the intention to defraud creditors.
…Corporate Insolvency Resolution Process (CIRP)…
Alleged transfer of…