The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of proceedings under Section 65 against Respondent No. 1 for malicious intent, fixing remuneration for the IRP, directing Respondent No. 1 to reimburse expenses, and seeking dissolution of the corporate debtor or withdrawal of the CIRP.
The Corporate Debtor was admitted into CIRP vide order dated 02.04.2025.
The IRP issued a public announcement on 09.04.2025, inviting claims from creditors.
Four claims were received, two from Financial Creditors and two from Operational Creditors.
The Committee of Creditors (CoC) consisted of only the Commercial Tax Department, UP.
The Corporate Debtor has remained non-functional for the past four years and has no assets.
The sole CoC member expressed unwillingness to contribute towards further CIRP or liquidation expenses.
The IRP has voluntarily agreed to forgo his fees and expenses.
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The Corporate…
The IRP issued a public…
The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of proceedings under Section 65 against Respondent No. 1 for malicious intent, fixing remuneration for the IRP, directing Respondent No. 1 to reimburse expenses, and seeking dissolution of the corporate debtor or withdrawal of the CIRP.
The Corporate Debtor was admitted into CIRP vide order dated 02.04.2025.
The IRP issued a public announcement on 09.04.2025, inviting claims from creditors.
Four claims were received, two from Financial Creditors and two from Operational Creditors.
The Committee of Creditors (CoC) consisted of only the Commercial Tax Department, UP.
The Corporate Debtor has remained non-functional for the past four years and has no assets.
The sole CoC member expressed unwillingness to contribute towards further CIRP or liquidation expenses.
The IRP has voluntarily agreed to forgo his fees and expenses.
The Corporate…
The IRP issued a public…