IN RE Vs. GUPTA COAL INDIA PVT LTD

JUDGEMENT

(1.) (Heard & Pronounced on 09.03.2017) This Company Petition is filed by Gupta Coal India Pvt. Ltd., u/s 10 of I &B Code 2016 r/w Rule 7 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 for initiation of Corporate Insolvency Resolution process.

(2.) The Corporate Debtor says that its registered office is at Gupta Tower, 4th Floor Temple Road, Civil Lines, Nagpur, Maharashtra-pin code 440001, incorporated on 5-5-1989 vide Registration No.l 1-51640 of 1989 on the file of Registrar of Companies Maharashtra, having authorised share capital of Rs.40 crores and paid up share capital of Rs.32.48 crores.

(3.) The Board of Directors of the Corporate Debtor in their meeting held on 14-2-2017 authorised Mr. Piyush Marodia, whole time Director and Mr. Padamesh Duodutta Gupta, Director, either jointly or severally, to file necessary application under I&B Code 2016. The Board also proposed Mr. Devandra Singh, ATS, Green Paradiso, Flat No. 02054, Tower-2, Plot No. GH-03, Sector-CHI-04, Greater Noida-201 308, Distt: Gautam Budh Nagar, Uttar Pradesh, Registration No. IBBI/IPA-002/IP-N00001/2016-17/10001, Email Id: dev_singh2006@yahoo.com, as interim resolution professional, who has given his consent with a declaration that no disciplinary proceedings are pending against him vide his letter annexed at page No.457 and 458 of the petition.