Corporate Insolvency Resolution Process of Ajnara India Limited

On 20th September, 2022, Hon'ble NCLT has initiated Corporate Insolvency Resolution Process (CIRP) and appointed Mr. Amarpal, as Interim Resolution Professional (IRP) of M/s Ajnara India Limited. Moratorium U/s 14 of IBC has been declared. Now the affairs, business, management and properties related to the Ajnara India Ltd, would be managed by IRP, as per IBC. Hon'ble NCLAT vide its orders dated 17.10.2022 and 11.01.2023, has put a stay on the further steps in the CIRP of M/s Ajnara India Ltd. and has directed the IRP to supervise the construction with support and cooperation from the ex-management, employees and other officers. In view of the above orders, the collection of claims has temporarily been suspended till further directions from Hon'ble NCLAT.