The case pertains to a company petition filed by 24X7 Learning Private Limited (Corporate Applicant) under Section 10 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process. The corporate debtor, 24X7 Learning Private Limited, stated in its petition that it was incorporated on August 20, 2014. The petition was heard on April 12, 2017, and April 25, 2017.
24X7 Learning Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company was incorporated on August 20, 2014. The registered office is in Bangalore. The authorized share capital is Rs. 2,00,00,000, divided into equity and preference shares. The issued, subscribed, and paid-up share capital is Rs. 1,72,25,330. The company's audited balance sheet as of March 31, 2016, was provided. The Board of Directors authorized Mr. K.S. Karthik to file the application. The company proposed Mr. Ramesh Kumar Bhat as the Interim Resolution Professional (IRP). The corporate debtor is in default for more than 7 years, owing Rs. 2,16,02,565 to Financial Creditors and Rs.
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24X7 Learning…
Audited balance sheet…
The case pertains to a company petition filed by 24X7 Learning Private Limited (Corporate Applicant) under Section 10 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process. The corporate debtor, 24X7 Learning Private Limited, stated in its petition that it was incorporated on August 20, 2014. The petition was heard on April 12, 2017, and April 25, 2017.
24X7 Learning Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company was incorporated on August 20, 2014. The registered office is in Bangalore. The authorized share capital is Rs. 2,00,00,000, divided into equity and preference shares. The issued, subscribed, and paid-up share capital is Rs. 1,72,25,330. The company's audited balance sheet as of March 31, 2016, was provided. The Board of Directors authorized Mr. K.S. Karthik to file the application. The company proposed Mr. Ramesh Kumar Bhat as the Interim Resolution Professional (IRP). The corporate debtor is in default for more than 7 years, owing Rs. 2,16,02,565 to Financial Creditors and Rs.
…24X7 Learning…
Audited balance sheet…