M/s Clarion Townships Private Limited (‘Corporate Debtor’), is under Corporate Insolvency Resolution Process vide an order of Hon’ble National Company Law Tribunal (‘NCLT’) dated 03.05.2021 in the matter of Manjula Tripathi & Ors Vs Clarion Townships Private Limited, in CP. No. IB 638/(ND)/2020. On the date of Insolvency Resolution Process, the powers of the members of the board of directors of the Rohtas Projects Ltd has been suspended.
Mr. Mukesh Gupta, being an Insolvency Professional having Regn No. IBBI/IPA-001/IP-P01494/2018-2019/12254, was appointed as the Interim Resolution Professional vide an order dated 03.05.2021 by the Hon’ble Tribunal. The powers of the members of the suspended Board of directors of the Corporate Debtor vests in the IRP/ RP from the date of commencement of Corporate Insolvency Resolution Process of the Corporate Debtor.
Mr. Mukesh Gupta was confirmed as the Resolution Professional in the 1st meeting of Committee of Creditors held on the 02.06.2021.
On the date of Commencement of Corporate Insolvency Resolution Process of the Corporate Debtor, there is a order of declaration of moratorium by the Hon’ble NCLT prohibiting following:
(a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgement, decree or order in any court of law, tribunal, arbitration panel or other authority;
(b) transferring, encumbering, alienating or disposing off by the corporate debtor any of its assets or any legal right or beneficial interest therein;
(c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002);
(d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor.
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