In the matter of Sanjeev Azad, Cp (Ib) No. 99/Chd/CHD/2022
Case brief
What is this about?
The NCLT admitted a petition under Section 94 of the Insolvency and Bankruptcy Code, 2016, directed the appointed resolution professional to file a report under Section 99, and issued limited notice to creditors.
What did the court decide?
Directed RP to file Section 99 report within two weeks; limited notice issued to creditors to appear by 21.09.2022.
What the court decided
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THE NATIONAL COMPANY LAW TRIBUNAL CHANDIGARH BENCH, CHANDIGARH (through web-based video conferencing platform)
Item No.41 CP (IB) No. 99/Chd/Hry/2022 Under Section 94, IBC 2016
In the matter of:-
Sanjeev Azad, PG, Ria Constructions Ltd. ….Petitioner
Present through Video Conferencing:
Mr. Sumer Singh Brar, Advocate for the petitioner
As per report of the Registry, antecedents of Mr. Ravinder Kumar Goel, Proposed Resolution Professional having Registration No.IBBI/IPA001/IP-P00705/2017-18/11252 have been verified. He is appointed as Resolution Professional and directed to comply with the provisions of Section 99 and file the report accordingly within two weeks.
In the meantime, issue limited notice of this petition to the creditor(s) for presence within two weeks, returnable on or before 21.09.2022. If already issued then learned counsel for petitioner is direct to file affidavit to that effect that notice has been served upon creditor(s) with proof of service before the next date of hearing. List on 21.09.2022.
Issues for consideration
1 issue framed by the court
Whether the proposed resolution professional appointed under IBC is required to file a report under Section 99 within the stipulated time.
Parties & counsel
- petitioner
Sanjeev Azad
- petitioner
Ria Constructions Ltd.
Coram
Subrata Kumar Dash
Case details
As recorded by the court registry
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