UCO BANK Vs. KKK COTSPIN PVT LTD

JUDGEMENT

(1.) The petition filed by the petitioner-Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity, the 'Code') read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (for short, the 'Rules') was admitted on 25.01.2018 and moratorium under Section 14 (1) of the Code was declared. The matter was listed for today for passing formal order of appointment of the Interim Resolution Professional. The Financial Creditor proposed the name of Mr. Vivek Kumar Arora to act as Interim Resolution Professional and the written communication furnished in Form 2 was found to be in order as observed in the order dated 25.01.2018.

(2.) In view of the above, the following directions are issued:-

(3.) It is further directed that the Interim Insolvency Resolution Professional shall positively file a report of events before this Tribunal every week in relation to the 'Corporate Debtor'.