Tribunal allows COC to continue CIRP pending RP discharge. Urgent meeting sought. The Tribunal directed the Registry to scrutinize an application and issued notice to the Member of COC and Suspended Management of the Corporate Debtor ...
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Tribunal allows COC to continue CIRP pending RP discharge. Urgent meeting sought.
The Tribunal directed the Registry to scrutinize an application and issued notice to the Member of COC and Suspended Management of the Corporate Debtor Company. The RP sought urgent direction for COC to conduct a meeting post the end of the CIRP period. The Tribunal held that since the RP has not been discharged, COC can proceed with CIRP until a formal order for liquidation is issued. The next hearing is scheduled for 9th July 2019.
The Tribunal directed the Registry to scrutinize an application, issued notice to the Member of COC and Suspended Management of the Corporate Debtor Company. RP sought urgent direction for COC to conduct a meeting despite the end of CIRP period. Tribunal held that RP has not been discharged, so COC can continue with CIRP until a formal order for liquidation is passed. Next hearing scheduled for 9th July, 2019.
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