The case involves an application (IA No. 311 of 2020) filed by the Resolution Professional (RP) of Aditya Exim Limited in Company Petition (IB) No. 312 of 2018, seeking liquidation of the Corporate Debtor under Sections 33 and 34 of the Insolvency and Bankruptcy Code (IBC), 2016, and for the appointment of a Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by Narayani Ispat Limited (Operational Creditor) against Aditya Exim Limited (Corporate Debtor) under Section 9 of the IBC. The CIRP was admitted on 2019-09-26, and Shri Gordhanbhai Ratnabhai Godhani was appointed as the Interim Resolution Professional (IRP).
Narayani Ispat Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Aditya Exim Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 2019-09-26, and Shri Gordhanbhai Ratnabhai Godhani was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided in its first meeting on 2019-10-23 to continue with the IRP as RP. In the fourth CoC meeting held on 2020-03-19, the CoC resolved to go for liquidation of the Corporate Debtor because no viable Resolution Plan was received and the Corporate Debtor did not possess significant assets. The bank balance available in the bank account of the Corporate Debtor was insufficient to pay the
…Sign in to view the parties.
CP (IB) No. 312 of 2018 was filed by Operational…
Corporate Insolvency Resolution Process…
The case involves an application (IA No. 311 of 2020) filed by the Resolution Professional (RP) of Aditya Exim Limited in Company Petition (IB) No. 312 of 2018, seeking liquidation of the Corporate Debtor under Sections 33 and 34 of the Insolvency and Bankruptcy Code (IBC), 2016, and for the appointment of a Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by Narayani Ispat Limited (Operational Creditor) against Aditya Exim Limited (Corporate Debtor) under Section 9 of the IBC. The CIRP was admitted on 2019-09-26, and Shri Gordhanbhai Ratnabhai Godhani was appointed as the Interim Resolution Professional (IRP).
Narayani Ispat Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Aditya Exim Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 2019-09-26, and Shri Gordhanbhai Ratnabhai Godhani was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided in its first meeting on 2019-10-23 to continue with the IRP as RP. In the fourth CoC meeting held on 2020-03-19, the CoC resolved to go for liquidation of the Corporate Debtor because no viable Resolution Plan was received and the Corporate Debtor did not possess significant assets. The bank balance available in the bank account of the Corporate Debtor was insufficient to pay the
…CP (IB) No. 312 of 2018 was filed by Operational…
Corporate Insolvency Resolution Process…