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Proseed India Ltd - Intimation Of Initiation Of Corporate Insolvency Resolution Process (CIRP) And Appointment Of Interim Resolution Professional (IRP) In The Matter Of Proseed India Limited (CIN:L01403TG2002PLC039113)

| Updated on July 26, 2019 Published on July 26, 2019

I, CS Venka Reddy Bathina, Insolvency Professional, bearing IP Registration No. IBBI/IPA-002/IPN00645/
2018-2019/12032, hereby inform you CIRP has been initiated in respect of Proseed India
Limited under the provisions of Sec 16 of Insolvency and Bankruptcy Code, 2016 (Code) by an
order of National Company Law Tribunal (NCLT) pronounced on 10 July 2019 vide order in CP
(IB) No. 218/9/HDB/2019 (Order uploaded and received on 23 July 2019) confirming the
appointment of the undersigned as Interim Resolution Professional.
As per Section 17 of the Code, the powers of the Board of Directors of Proseed India Limited stands
suspended and such powers shall be vested with me.
It may further be noted that in consonance with the stipulations contained in Section 14 of the Code, a
moratorium has been declared vide the aforesaid order in CP (IB) No. 218/9/HDB/2019 passed by
NCLT, extract of certain significant clauses which require your attention reproduced for your perusal.

Pdf Link: Proseed India Ltd - Intimation Of Initiation Of Corporate Insolvency Resolution Process (CIRP) And Appointment Of Interim Resolution Professional (IRP) In The Matter Of Proseed India Limited (CIN:L01403TG2002PLC039113)

Source : BSE - www.bseindia.com

Published on July 26, 2019
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