Mr. Rajendra P, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Indiranagar Chit Fund and Trading Company Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, due to a default of Rs.20,02,250/-. The Adjudicating Authority admitted the case and initiated CIRP on 28.01.2020. Subsequently, 77 days were excluded from the CIRP period due to lockdown, revising the completion date to 12.10.2020. The Committee of Creditors (COC) met on 06.10.2020 to consider CIRP or liquidation.
Mr. Rajendra P filed CP(IB)No.322/BB/2019 under Section 9 of IBC against M/s. Indiranagar Chit Fund and Trading Company Private Limited for a default of Rs.20,02,250/-.
The Adjudicating Authority admitted the case and initiated CIRP on 28.01.2020.
77 days were excluded from the CIRP period due to lockdown by order dated 02.09.2020, revising the CIRP completion date to 12.10.2020.
The 4th Meeting of the COC took place on 06.10.2020, where the COC resolved to approve liquidation of the Corporate Debtor by a 100% vote share.
The COC also resolved to appoint Shri Shankar B Iyer as the Liquidator with a 100% vote share.
…Sign in to view the parties.
The Adjudicating Authority admitted the…
The Adjudicating…
Mr. Rajendra P, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Indiranagar Chit Fund and Trading Company Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, due to a default of Rs.20,02,250/-. The Adjudicating Authority admitted the case and initiated CIRP on 28.01.2020. Subsequently, 77 days were excluded from the CIRP period due to lockdown, revising the completion date to 12.10.2020. The Committee of Creditors (COC) met on 06.10.2020 to consider CIRP or liquidation.
Mr. Rajendra P filed CP(IB)No.322/BB/2019 under Section 9 of IBC against M/s. Indiranagar Chit Fund and Trading Company Private Limited for a default of Rs.20,02,250/-.
The Adjudicating Authority admitted the case and initiated CIRP on 28.01.2020.
77 days were excluded from the CIRP period due to lockdown by order dated 02.09.2020, revising the CIRP completion date to 12.10.2020.
The 4th Meeting of the COC took place on 06.10.2020, where the COC resolved to approve liquidation of the Corporate Debtor by a 100% vote share.
The COC also resolved to appoint Shri Shankar B Iyer as the Liquidator with a 100% vote share.
…The Adjudicating Authority admitted the…
The Adjudicating…