Panache Exports Private Limited (Corporate Debtor) was admitted into CIRP on 25.11.2019, and subsequently, liquidation was initiated on 23.09.2022, with Mr. Ajit Gyanchand Jain appointed as Liquidator. Indojewel Jewellery Private Limited (Applicant) purchased an asset of the Corporate Debtor in an e-auction on an "as is where is" basis. Brihanmumbai Municipal Corporation (Respondent No. 1), an unsecured operational creditor, had previously lodged a claim of Rs. 8,21,434/- with the Liquidator for dues prior to the liquidation date. Despite participating in the liquidation process, Respondent No. 1 is now seeking to recover an outstanding amount of Rs. 86,58,080/- (plus interest/penalty) from the Applicant, pertaining to the period prior to the liquidation
…Panache Exports Private Limited ("Corporate Debtor") was admitted into the Corporate Insolvency Resolution Process ("CIRP") on 25.11.2019.
Liquidation was initiated against the Corporate Debtor vide order dated 23.09.2022 ("Liquidation Order").
Mr. Ajit Gyanchand Jain ("Respondent No. 2") was appointed as the Liquidator of the Corporate Debtor.
Brihanmumbai Municipal Corporation ("Respondent No. 1"), as an unsecured operational creditor, lodged its claim amounting to Rs. 8,21,434/- with the Liquidator on 20.12.2022.
Respondent No. 2 (Liquidator) published an Auction Notice for the sale of an asset of the Corporate Debtor on 05.06.2023, with the E-Auction to be conducted on 05.07.2023.
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Panache Exports Private Limited ("Corporate…
Liquidation was…
Panache Exports Private Limited (Corporate Debtor) was admitted into CIRP on 25.11.2019, and subsequently, liquidation was initiated on 23.09.2022, with Mr. Ajit Gyanchand Jain appointed as Liquidator. Indojewel Jewellery Private Limited (Applicant) purchased an asset of the Corporate Debtor in an e-auction on an "as is where is" basis. Brihanmumbai Municipal Corporation (Respondent No. 1), an unsecured operational creditor, had previously lodged a claim of Rs. 8,21,434/- with the Liquidator for dues prior to the liquidation date. Despite participating in the liquidation process, Respondent No. 1 is now seeking to recover an outstanding amount of Rs. 86,58,080/- (plus interest/penalty) from the Applicant, pertaining to the period prior to the liquidation
…Panache Exports Private Limited ("Corporate Debtor") was admitted into the Corporate Insolvency Resolution Process ("CIRP") on 25.11.2019.
Liquidation was initiated against the Corporate Debtor vide order dated 23.09.2022 ("Liquidation Order").
Mr. Ajit Gyanchand Jain ("Respondent No. 2") was appointed as the Liquidator of the Corporate Debtor.
Brihanmumbai Municipal Corporation ("Respondent No. 1"), as an unsecured operational creditor, lodged its claim amounting to Rs. 8,21,434/- with the Liquidator on 20.12.2022.
Respondent No. 2 (Liquidator) published an Auction Notice for the sale of an asset of the Corporate Debtor on 05.06.2023, with the E-Auction to be conducted on 05.07.2023.
…Panache Exports Private Limited ("Corporate…
Liquidation was…