The case involves a civil appeal filed by Central Bank of India against the admission of a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor, M/s. Etco Denim Private Limited. The Corporate Debtor was admitted into insolvency by the adjudicating authority. A Resolution Professional was appointed on 2020-02-14. During the insolvency proceedings, the Resolution Professional instructed an employee of the Corporate Debtor to apply for registration as a Micro, Small or Medium Enterprise (MSME) under the Micro, Small and Medium Enterprises Development Act, 2006. The appellant, Central Bank of India, objected to the Corporate Debtor being treated as an MSME, arguing that its asset value exceeded the prescribed norms. The MSME
…Central Bank of India filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Etco Denim Private Limited. The adjudicating authority admitted the petition, initiating the Corporate Insolvency Resolution Process (CIRP). A Resolution Professional was appointed on 2020-02-14. During the CIRP, the Resolution Professional instructed an employee of Etco Denim Private Limited to apply for MSME registration. Etco Denim Private Limited obtained an MSME registration certificate on 2020-10-23. Central Bank of India objected to Etco Denim Private Limited being treated as an MSME, arguing that its asset value exceeded the prescribed norms. The bank contended that the MSME certification was wrongfully procured. The appellant filed an appeal before the
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A Resolution Professiona…
Gazette Notification…
The case involves a civil appeal filed by Central Bank of India against the admission of a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor, M/s. Etco Denim Private Limited. The Corporate Debtor was admitted into insolvency by the adjudicating authority. A Resolution Professional was appointed on 2020-02-14. During the insolvency proceedings, the Resolution Professional instructed an employee of the Corporate Debtor to apply for registration as a Micro, Small or Medium Enterprise (MSME) under the Micro, Small and Medium Enterprises Development Act, 2006. The appellant, Central Bank of India, objected to the Corporate Debtor being treated as an MSME, arguing that its asset value exceeded the prescribed norms. The MSME
…Central Bank of India filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Etco Denim Private Limited. The adjudicating authority admitted the petition, initiating the Corporate Insolvency Resolution Process (CIRP). A Resolution Professional was appointed on 2020-02-14. During the CIRP, the Resolution Professional instructed an employee of Etco Denim Private Limited to apply for MSME registration. Etco Denim Private Limited obtained an MSME registration certificate on 2020-10-23. Central Bank of India objected to Etco Denim Private Limited being treated as an MSME, arguing that its asset value exceeded the prescribed norms. The bank contended that the MSME certification was wrongfully procured. The appellant filed an appeal before the
…A Resolution Professiona…
Gazette Notification…