The application IA(Liq.)/6(AHM)2025 was filed by Mr. Kamal Agarwal, the Resolution Professional (RP) of M/s. Torque Automotive Private Limited, under Section 33 read with Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of liquidation process.
The Corporate Debtor, M/s. Torque Automotive Private Limited, was incorporated under the Companies Act, 1956 and is engaged in the business of sale of four-wheeler cars.
The CIRP was initiated based on an application filed by M/s Sampati Securities Limited under Section 7 of the IBC, which was admitted on 24.02.2021.
Mr. Parag Sheth was initially appointed as the Interim Resolution Professional (IRP).
The CoC was constituted on 01.04.2021, comprising Bank of Baroda, M/s. Volkswagen Finance Private Limited, M/s. Sampati Securities Limited and HDFC Bank Limited.
The CoC resolved to replace the IRP with Mr. Kamal Aggarwal.
The NCLAT dismissed Company Appeal (AT) (Insolvency) No. 641 of 2021, noting that all three Resolution Plans had been rejected by the CoC.
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CIRP initiated based on…
Committee of C…
The application IA(Liq.)/6(AHM)2025 was filed by Mr. Kamal Agarwal, the Resolution Professional (RP) of M/s. Torque Automotive Private Limited, under Section 33 read with Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of liquidation process.
The Corporate Debtor, M/s. Torque Automotive Private Limited, was incorporated under the Companies Act, 1956 and is engaged in the business of sale of four-wheeler cars.
The CIRP was initiated based on an application filed by M/s Sampati Securities Limited under Section 7 of the IBC, which was admitted on 24.02.2021.
Mr. Parag Sheth was initially appointed as the Interim Resolution Professional (IRP).
The CoC was constituted on 01.04.2021, comprising Bank of Baroda, M/s. Volkswagen Finance Private Limited, M/s. Sampati Securities Limited and HDFC Bank Limited.
The CoC resolved to replace the IRP with Mr. Kamal Aggarwal.
The NCLAT dismissed Company Appeal (AT) (Insolvency) No. 641 of 2021, noting that all three Resolution Plans had been rejected by the CoC.
…CIRP initiated based on…
Committee of C…