SILVER OAK COMMERCIAL LTD. - 512197 - Corporate Insolvency Resolution Process (CIRP)-Appointment of Interim Resolution Professional (IRP)
We hereby intimate you that CIRP has been initiated in respect of Silveroak Commercials Limited ('the company) under the provisions of Insolvency and code 2016 (IBC) by an order of National Company Law Tribunal with effect from 2nd May 2019. As per section 17 of IBC 2016, the powers of the board of directors stands suspended, and such powers shall be vested with me, Rajendra kumar Khandelwal (IP Registration No. IBBI/IPA-001/IP-P01140/2018-2019/11867 appointed as IRP with respect to the company. It may further be noted that as per section 14 of IBC 2016 the said NCLT order has declared a moratorium prohibiting all of the following namely:- (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. This is for your information and record. The company will keep the statutory authorities posted on further developments in this regard. Please acknowledge receipt of this document.31-05-2019