Sarvaloka Services-On-Call Private Limited filed a petition under Section 10 of the IBC, 2016, seeking initiation of CIRP due to its inability to pay its debts. The company faced financial distress due to the COVID-19 pandemic and project delays, leading to client refunds and legal actions.
Sarvaloka Services-On-Call Private Limited filed a petition under Section 10 of the IBC, 2016, for initiating CIRP.
The company's financial distress was attributed to the COVID-19 pandemic and project delays.
The company faced multiple legal actions, including consumer complaints and civil suits.
The company defaulted on rental payments and has a financial debt, leading to a total default of Rs. 8,19,68,220.
The shareholders of the Corporate Applicant passed a Special Resolution for initiating CIRP on 02.01.2024.
The Tribunal directed the Petitioner to file certain documents, including audited financials and affidavits.
The petition was supported with the special resolution passed by the shareholders of the Corporate Applicant.
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Tribunal directed the Petitioner to file Latest…
Sarvaloka Services-On-Call Private Limited filed a petition under Section 10 of the IBC, 2016, seeking initiation of CIRP due to its inability to pay its debts. The company faced financial distress due to the COVID-19 pandemic and project delays, leading to client refunds and legal actions.
Sarvaloka Services-On-Call Private Limited filed a petition under Section 10 of the IBC, 2016, for initiating CIRP.
The company's financial distress was attributed to the COVID-19 pandemic and project delays.
The company faced multiple legal actions, including consumer complaints and civil suits.
The company defaulted on rental payments and has a financial debt, leading to a total default of Rs. 8,19,68,220.
The shareholders of the Corporate Applicant passed a Special Resolution for initiating CIRP on 02.01.2024.
The Tribunal directed the Petitioner to file certain documents, including audited financials and affidavits.
The petition was supported with the special resolution passed by the shareholders of the Corporate Applicant.
…Shareholders of the Corporate Applicant…
Tribunal directed the Petitioner to file Latest…