This Application IA 4565/2024 was filed by Mr. Shekhar Arvind Parkhi (Applicant), the Resolution Professional of M/s. Green India Building Systems and Services Private Ltd. (“Corporate Debtor”) against the Mr. Arun Shenoy and Mr. Mandar Kaprekar, both directors of Corporate Debtor on commencement of Corporate Insolvency Resolution Process (“CIRP”) and referred as Respondent No. 1 and 2 respectively hereinafter, under Section 66 of The Insolvency and Bankruptcy Code, 2016 ("Code"), seeking reliefs related to fraudulent transactions.
IA 4565/2024 was filed by Shekhar Arvind Parkhi, the Resolution Professional of Green India Building Systems and Services Private Ltd.
The application was filed under Section 66 of the Insolvency and Bankruptcy Code, 2016.
The application sought to declare certain transactions entered by the Board of Directors as null and void and reverse their effects.
The applicant appointed M/s M. Ali & Co. as Transaction Auditor to review the financial transactions of the Corporate Debtor.
The Transaction Auditor identified certain transactions as fraudulent under S.66 of the Code, including writing off of Fixed Assets and Inventory.
The Respondents filed a joint reply stating that Section 66 casts a burden on the Resolution Professional to establish a case of fraud.
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Tribunal appointed Shekhar Arvind Parkhi as…
Tribunal re-admitted the application and…
This Application IA 4565/2024 was filed by Mr. Shekhar Arvind Parkhi (Applicant), the Resolution Professional of M/s. Green India Building Systems and Services Private Ltd. (“Corporate Debtor”) against the Mr. Arun Shenoy and Mr. Mandar Kaprekar, both directors of Corporate Debtor on commencement of Corporate Insolvency Resolution Process (“CIRP”) and referred as Respondent No. 1 and 2 respectively hereinafter, under Section 66 of The Insolvency and Bankruptcy Code, 2016 ("Code"), seeking reliefs related to fraudulent transactions.
IA 4565/2024 was filed by Shekhar Arvind Parkhi, the Resolution Professional of Green India Building Systems and Services Private Ltd.
The application was filed under Section 66 of the Insolvency and Bankruptcy Code, 2016.
The application sought to declare certain transactions entered by the Board of Directors as null and void and reverse their effects.
The applicant appointed M/s M. Ali & Co. as Transaction Auditor to review the financial transactions of the Corporate Debtor.
The Transaction Auditor identified certain transactions as fraudulent under S.66 of the Code, including writing off of Fixed Assets and Inventory.
The Respondents filed a joint reply stating that Section 66 casts a burden on the Resolution Professional to establish a case of fraud.
…Tribunal appointed Shekhar Arvind Parkhi as…
Tribunal re-admitted the application and…