2022 (4) TMI 1365

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.... Bankruptcy Code ("Code"). 3. This Adjudicating Authority vide order dated 09 July 2019 admitted Bansal Refineries Private Limited ("Corporate Debtor") under Corporate Insolvency Resolution Process ("CIRP") on a Petition filed under section 7 of the Code by Corporation Bank, registered as CP(IB) No. 11/KB/2019. 4. Ms. Mamta Binani was appointed as the Interim Resolution Professional. Mr. Pinaki Sarkar was appointed as the Resolution Professional (RP) by this Adjudicating Authority vide order dated 13 August 2019, which was amended on 20 August 2019. 5. This Adjudicating Authority vide order dated 17 January 2020 ordered the Corporate Debtor to be liquidated. Mr. Pinaki Sarkar was appointed as the Liquidator. 6. On perusal of the....

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....price in comparison with the value reflected in the books of account. (6) It was noted that a sale of Rs. 1,78,59,685/- (Rupees one crore seventy-eight lakh fifty-nine thousand six hundred and eighty-five only) was booked and debt balance of Amicus Oil and Chemical Private Limited was increased by Rs. 1,87,52,670/- (Rupees one crore eighty-seven lakh fifty-two thousand six hundred and seventy only). The same was reflected in the unaudited balance sheet of Amicus Oil and Chemical Private Limited but no realisation was made against the sale from related party. (7) The Corporate Debtor had a stock of Rs. 6,51,54,180/- (Rupees six crore fifty-one lakh fifty-four thousand one hundred and eighty only) of finished goods, by-produ....