The case involves an application filed by Indian Bank, a secured Financial Creditor and Stakeholder of Pratibha Industries Limited (Corporate Debtor), seeking the removal of the existing Liquidator, Anil Mehta, and the appointment of Avil Menezes as the new Liquidator.
Indian Bank, a secured Financial Creditor and Stakeholder of Pratibha Industries Limited, filed an application seeking the removal of the existing Liquidator, Anil Mehta, and the appointment of Avil Menezes.
The Corporate Debtor, Pratibha Industries Limited, was admitted into CIRP on 01.02.2019 and subsequently liquidated on 08.02.2021.
The Stakeholders Consultation Committee (SCC) voted by 85.94% in favor of removing the current Liquidator and replacing him with a new one.
The Applicant alleged that the Respondent was running the Liquidation process with incompetence, concealing financial information, and making unilateral decisions.
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The case was registered…
The Corporate Debtor…
The case involves an application filed by Indian Bank, a secured Financial Creditor and Stakeholder of Pratibha Industries Limited (Corporate Debtor), seeking the removal of the existing Liquidator, Anil Mehta, and the appointment of Avil Menezes as the new Liquidator.
Indian Bank, a secured Financial Creditor and Stakeholder of Pratibha Industries Limited, filed an application seeking the removal of the existing Liquidator, Anil Mehta, and the appointment of Avil Menezes.
The Corporate Debtor, Pratibha Industries Limited, was admitted into CIRP on 01.02.2019 and subsequently liquidated on 08.02.2021.
The Stakeholders Consultation Committee (SCC) voted by 85.94% in favor of removing the current Liquidator and replacing him with a new one.
The Applicant alleged that the Respondent was running the Liquidation process with incompetence, concealing financial information, and making unilateral decisions.
…The case was registered…
The Corporate Debtor…