The matter pertains to IA No. 1293 of 2020 in CP No. 145/MB/2018, an application seeking liquidation of the Corporate Debtor, Aditya Polymers. The CIRP was initiated against the Corporate Debtor based on an application filed under Section 7 of the I&B Code, as per the order dated 05.09.2019. The CIRP period expired on 03.03.2020, and no resolution plan was approved. The Committee of Creditors (CoC) decided in its meeting held on 20.02.2020, with a vote share of 84.75%, to liquidate the Corporate Debtor and appoint Mr. Krishna Chamadia as the liquidator.
The Corporate Debtor, Aditya Polymers, underwent Corporate Insolvency Resolution Process (CIRP) initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC) based on an application. The CIRP commenced following an order dated 05.09.2019. The CIRP period expired on 03.03.2020. No resolution plan was approved during the CIRP. The Committee of Creditors (CoC) convened on 20.02.2020 and, with 84.75% voting share, resolved to liquidate the Corporate Debtor. Mr. Krishna Chamadia, an Insolvency Professional with IBBI Registration No. IBBI/IPA-001/IP-P00694/2017-2018/11220, was appointed as the liquidator, having given his consent to act in that capacity. The CoC's resolution was made pursuant to Section 33(1) of the IBC, given the absence of a resolution plan after
…Sign in to view the parties.
CIRP initiated against Aditya Polymers based on…
Committee of Creditors (CoC) decided to…
The matter pertains to IA No. 1293 of 2020 in CP No. 145/MB/2018, an application seeking liquidation of the Corporate Debtor, Aditya Polymers. The CIRP was initiated against the Corporate Debtor based on an application filed under Section 7 of the I&B Code, as per the order dated 05.09.2019. The CIRP period expired on 03.03.2020, and no resolution plan was approved. The Committee of Creditors (CoC) decided in its meeting held on 20.02.2020, with a vote share of 84.75%, to liquidate the Corporate Debtor and appoint Mr. Krishna Chamadia as the liquidator.
The Corporate Debtor, Aditya Polymers, underwent Corporate Insolvency Resolution Process (CIRP) initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC) based on an application. The CIRP commenced following an order dated 05.09.2019. The CIRP period expired on 03.03.2020. No resolution plan was approved during the CIRP. The Committee of Creditors (CoC) convened on 20.02.2020 and, with 84.75% voting share, resolved to liquidate the Corporate Debtor. Mr. Krishna Chamadia, an Insolvency Professional with IBBI Registration No. IBBI/IPA-001/IP-P00694/2017-2018/11220, was appointed as the liquidator, having given his consent to act in that capacity. The CoC's resolution was made pursuant to Section 33(1) of the IBC, given the absence of a resolution plan after
…CIRP initiated against Aditya Polymers based on…
Committee of Creditors (CoC) decided to…