The case involves an application filed by the liquidator, Mr. Sanjay Garg, seeking an extension of the liquidation period for the Corporate Debtor, M/s. A to Z Barter Private Limited. The initial application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by the Operational Creditor, M/s. Inox Leisure Limited, and was admitted on 05.12.2018. Liquidation was ordered on 04.01.2021. The liquidator has faced non-cooperation from the suspended board of directors, hindering the preparation of the asset memorandum. Previous extensions were granted, but the liquidator sought further extensions to pursue legal actions against defaulting directors and complete the liquidation process.
M/s. Inox Leisure Limited initiated insolvency proceedings against M/s. A to Z Barter Private Limited under Section 9 of the IBC, which were admitted on 05.12.2018, leading to a moratorium and the appointment of an Interim Resolution Professional. Subsequently, on 04.01.2021, the Adjudicating Authority ordered the liquidation of M/s. A to Z Barter Private Limited and appointed Mr. Sanjay Garg as the liquidator. An earlier exclusion of 49 days was granted on 07.01.2022, as the initial one-year period had expired on 22.02.2022. An Interlocutory Application (1828 of 2022) resulted in an extension of 180 days until 22nd August 2022. Further extension applications (4359 of 2022) were filed and allowed until 19th February 2023. The liquidator cited non-cooperation from the
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Application under Section 9 of IBC filed by M/s.…
Adjudicating Authority passed an order allowing…
The case involves an application filed by the liquidator, Mr. Sanjay Garg, seeking an extension of the liquidation period for the Corporate Debtor, M/s. A to Z Barter Private Limited. The initial application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by the Operational Creditor, M/s. Inox Leisure Limited, and was admitted on 05.12.2018. Liquidation was ordered on 04.01.2021. The liquidator has faced non-cooperation from the suspended board of directors, hindering the preparation of the asset memorandum. Previous extensions were granted, but the liquidator sought further extensions to pursue legal actions against defaulting directors and complete the liquidation process.
M/s. Inox Leisure Limited initiated insolvency proceedings against M/s. A to Z Barter Private Limited under Section 9 of the IBC, which were admitted on 05.12.2018, leading to a moratorium and the appointment of an Interim Resolution Professional. Subsequently, on 04.01.2021, the Adjudicating Authority ordered the liquidation of M/s. A to Z Barter Private Limited and appointed Mr. Sanjay Garg as the liquidator. An earlier exclusion of 49 days was granted on 07.01.2022, as the initial one-year period had expired on 22.02.2022. An Interlocutory Application (1828 of 2022) resulted in an extension of 180 days until 22nd August 2022. Further extension applications (4359 of 2022) were filed and allowed until 19th February 2023. The liquidator cited non-cooperation from the
…Application under Section 9 of IBC filed by M/s.…
Adjudicating Authority passed an order allowing…