The case pertains to an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, M/s. Advance Navotpad Surfactants Limited. The financial creditor, Bank of India, had initially filed an application under Section 7 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, which was admitted on 27.09.2018. Mr. Sethurathnam Ravi was appointed as the Interim Resolution Professional (IRP). The Interim Resolution Professional invited claims from creditors, with only one claim received from Bank of India. The Committee of Creditors (CoC) was constituted with Bank of India as the sole member. The Interim
…Bank of India, the financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Advance Navotpad Surfactants Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 27.09.2018. Mr. Sethurathnam Ravi was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. Only one claim was received from Bank of India. The Committee of Creditors (CoC) consisted solely of Bank of India. Two registered valuers were appointed for asset valuation, and D. K. Lodha & Co. was appointed as Forensic Auditor. An Expression of Interest (EOI) was invited, and M/s KMG Industrial Traders Private Limited initially submitted an EOI but later withdrew. An extension of the CIRP
…Sign in to view the parties.
The Tribunal admitted the application filed by…
The Interim Resolution…
The case pertains to an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, M/s. Advance Navotpad Surfactants Limited. The financial creditor, Bank of India, had initially filed an application under Section 7 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, which was admitted on 27.09.2018. Mr. Sethurathnam Ravi was appointed as the Interim Resolution Professional (IRP). The Interim Resolution Professional invited claims from creditors, with only one claim received from Bank of India. The Committee of Creditors (CoC) was constituted with Bank of India as the sole member. The Interim
…Bank of India, the financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Advance Navotpad Surfactants Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 27.09.2018. Mr. Sethurathnam Ravi was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. Only one claim was received from Bank of India. The Committee of Creditors (CoC) consisted solely of Bank of India. Two registered valuers were appointed for asset valuation, and D. K. Lodha & Co. was appointed as Forensic Auditor. An Expression of Interest (EOI) was invited, and M/s KMG Industrial Traders Private Limited initially submitted an EOI but later withdrew. An extension of the CIRP
…The Tribunal admitted the application filed by…
The Interim Resolution…