The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, Advance Home and Personal Care Private Limited. The operational creditor, Model Logistics Private Limited, had initially filed an application under Section 9 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal admitted this application on 05.09.2019, initiating CIRP and appointing Mr. Vivek Parti as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). Several CoC meetings were held, but no resolution plan was submitted by any
…Model Logistics Pvt. Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Advance Home and Personal Care Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 05.09.2019, and Mr. Vivek Parti was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). Despite several meetings and attempts to solicit resolution plans, no viable plan was submitted by any Prospective Resolution Applicant (PRA). The CoC, in its 11th meeting held on 03.10.2020, approved the resolution for liquidation of the Corporate Debtor with 100% voting share. The Resolution Professional (RP) then
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Application under Section 9 of IBC filed by…
Applicant published the Invitation for…
The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, Advance Home and Personal Care Private Limited. The operational creditor, Model Logistics Private Limited, had initially filed an application under Section 9 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal admitted this application on 05.09.2019, initiating CIRP and appointing Mr. Vivek Parti as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). Several CoC meetings were held, but no resolution plan was submitted by any
…Model Logistics Pvt. Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Advance Home and Personal Care Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 05.09.2019, and Mr. Vivek Parti was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). Despite several meetings and attempts to solicit resolution plans, no viable plan was submitted by any Prospective Resolution Applicant (PRA). The CoC, in its 11th meeting held on 03.10.2020, approved the resolution for liquidation of the Corporate Debtor with 100% voting share. The Resolution Professional (RP) then
…Application under Section 9 of IBC filed by…
Applicant published the Invitation for…