Dismissed

In the matter of Modinagar Paper Mills Ltd. Cp No. (IB)391-ALD-2018

NCLT6 Dec 2021

Case brief

AI extract

What is this about?

The Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of the IBC was dismissed for non-prosecution. The Division Bench observed that the Operational Creditor failed to appear on multiple dates despite being given opportunities, indicating a lack of interest in pursuing the petition.

What did the court decide?

The Company Petition (CP No.(IB)391/ALD/2018) stood dismissed for non-prosecution.

In the matter of Modinagar Paper Mills Ltd. Cp No… — Insolvency and Bankruptcy | NCLT (2021)

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DIVISION BENCH ITEM No. 107

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NATIONAL COMPANY LAW TRIBUNAL ALLAHABAD BENCH ALLAHABAD

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CP No. (IB)391/ALD/2018,

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CORAM:

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1. SHRI RAJASEKHAR V. K, HON’BLE MEMBER (JUDICIAL)

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2. SHRI VIRENDRA KUMAR GUPTA, HON’BLE MEMBER (TECHNICAL)

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ATTENDANCE-CUM-ORDER SHEET OF THE HEARING ON 06th DECEMBER, 2021, 3:00 PM

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NAME OF THE	Om Shree Krishna Enterprises V/s
COMPANY	M/s Modi Nagar Paper Mills Ltd
UNDERSECTION	9 IBC

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COUNSEL APPEARED THROUGH VIDEO CONFERENCING :

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None : For the Operational Creditor Sh. Anurag Khanna, Sr. Counsel along with

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Sh. Sandeep Arora, Adv. : For the Kotak Mahindra Bank

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ORDER

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No representation on behalf of the Operational Creditor.

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Learned Sr. Counsel present on behalf of the newly impleaded/respondent no.2 i.e

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Kotak Mahindra Bank.

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No representation on behalf of the Corporate Debtor.

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It is seen that there was no representation on behalf of the Operational Creditor when the matter was called 13.09.2021 and 09.11.2021. on 09.11.2021 and opportunity was given to the counsel on record for the Operational Creditor to appear in the matter, failing which, it was recorded that the matter would be dismissed for non-prosecution. In spite of this today there is no representation again on behalf of the Operational Creditor. It appears that the Operational Creditor is not interested in pursuing the present company petition and, hence, CP NO.(IB)391/ALD/2018 shall stand dismissed for non-prosecution.

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Virendra Kumar Gupta

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Member (Technical)

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Rajasekhar V.K.

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Member (Judicial)

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Md. Zaid (Stenographer)

In the matter of Modinagar Paper Mills Ltd. Cp No. (IB)391-ALD-2018

Case brief

What is this about?

What did the court decide?

In the matter of Modinagar Paper Mills Ltd. Cp No. (IB)391-ALD-2018

Case brief

What is this about?

What did the court decide?

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