The case involves an application for liquidation of M/s Auto Needs (India) Private Limited ('Corporate Debtor') under Section 33 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initially initiated by Akasa Finance Limited (formerly Pooja Finelease Limited) but was withdrawn after settlement. However, the CIRP was revived by NCLAT due to failure to honor settlement terms.
The application for liquidation was filed by Mrs. Rashmi Mintri, the Resolution Professional of M/s Auto Needs (India) Private Limited.
The Corporate Insolvency Resolution Process (CIRP) was initially initiated on 20.12.2019 by Akasa Finance Limited (formerly Pooja Finelease Limited) under Section 7 of the Code.
The CIRP was revived by the Hon'ble NCLAT after the Corporate Debtor failed to honor the settlement terms.
The CoC resolved to appoint Ms. Rashmi Mintri as the Resolution Professional in its 1st meeting held on 19.06.2024.
A forensic audit identified fraudulent transactions aggregating to ₹9.09 Crores.
The CoC, in its 8th meeting held on 13.06.2025, resolved to initiate liquidation of the Corporate Debtor with 100% voting share.
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Corporate Insolvency…
CIRP proceedings were…
The case involves an application for liquidation of M/s Auto Needs (India) Private Limited ('Corporate Debtor') under Section 33 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initially initiated by Akasa Finance Limited (formerly Pooja Finelease Limited) but was withdrawn after settlement. However, the CIRP was revived by NCLAT due to failure to honor settlement terms.
The application for liquidation was filed by Mrs. Rashmi Mintri, the Resolution Professional of M/s Auto Needs (India) Private Limited.
The Corporate Insolvency Resolution Process (CIRP) was initially initiated on 20.12.2019 by Akasa Finance Limited (formerly Pooja Finelease Limited) under Section 7 of the Code.
The CIRP was revived by the Hon'ble NCLAT after the Corporate Debtor failed to honor the settlement terms.
The CoC resolved to appoint Ms. Rashmi Mintri as the Resolution Professional in its 1st meeting held on 19.06.2024.
A forensic audit identified fraudulent transactions aggregating to ₹9.09 Crores.
The CoC, in its 8th meeting held on 13.06.2025, resolved to initiate liquidation of the Corporate Debtor with 100% voting share.
…Corporate Insolvency…
CIRP proceedings were…