IN RE Vs. SHIVEK LABS LIMITED

JUDGEMENT

(1.) Mr. G.S.Sarin, Practising Company Secretaries for the applicant. Mr. R.S.Bhatia, Advocate, for Financial Creditor (PNB) Mr.Vivek Kumar Arora, Interim Resolution Professional Mr.Rajiv Khurana, proposed Resolution Professional CA No. 131/2017 has been filed by the Punjab National Bank, the Financial Creditor of the Corporate Debtor for replacement of Interim Resolution Professional.

(2.) The petition filed under Section 10 of Insolvency and Bankruptcy Code, 2016 by the Corporate Debtor (for short to be referred hereafter as the 'Code) was admitted by this Tribunal on 06.07.2017 declaring moratorium in terms of Section 14 of the 'Code' and appointing Mr.Vivek Kumar Arora, a Registered Insolvency Professional (IP) as the Interim Resolution Professional (IRP) with various other directions.

(3.) The period of appointment was for 30 days from the date of the order or as may be determined by the Committee of Creditors whichever is earlier.