APT PACKAGING LTD Vs. SHEON SKINCARE (P) LTD

JUDGEMENT

(1.) Learned Counsel for the petitioner is present. Pursuant to the Order-passed by this Tribunal on 08.12.2017 admitting the Petition by this Tribunal for the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 8 & 9 of the Insolvency & Bankruptcy Code, 2016 as the name for the Interim Resolution Professional has not been specified in the application, the same was forwarded to the Insolvency & Bankruptcy Board of India (IBBI) for the recommendation of an IRP.

(2.) Pursuant to the same, IBBI has recommended!Mr. Navjit Singh having his address at 218-a, 1st floor, Shop No,4, Rama Market, Pitampura. Delhi-110034 (Mobile No.9311162970 & LL No.011-47525539 and in view of the recommendations of IBBI, the above named person is appointed as the Interim Resolution Professional (IRP) in relation to the Corporate Debtor and the said IRP shall act in accordance with the provisions of IBC, 2016 and all the attendant Rules/Regulations framed thereunder.

(3.) However, the petitioner, in terms of the Regulation 6 of the Insolvency & Bankruptcy (Corporate Insolvency Resolution Process) Regulation, 2016, shall bear the expenses of public announcement. In addition, will defray the costs as may be claimed by the Interim Resolution Professional and an advance deposit of Rs.2 lakhs shall be paid to the IRP for making public announcements as per the provisions of IBC Code, 2016. Let the public notice be published in widely circulated leading newspapers where the present registered office of the Company/Corporate Debtor is located.