The Resolution Professional moved an application for the appointment of a liquidator as the COC in its meeting on November 7, 2019, resolved to commence the liquidation process due to the absence of a resolution plan under Sub-section (6) of Section 30. The RP agreed and consented to act as liquidator. The Liquidator's remuneration was reduced from 3 Lakhs to 2.25 lakhs per month. 93% of the Committee of Creditors consented and voted in favor, which was confirmed by the Tribunal. The appointment of Mr. Akash Singhal as liquidator was confirmed, and he was directed to file his next progress report as per the terms of the IBC, 2016. Additionally, an application (IA-63/C-VI/ND/2019) was filed for avoidance of transactions under Section 25 (2J) read with Sections 43, 45,
…M/s. Amira Pure Foods Pvt. Ltd. is undergoing corporate insolvency resolution process under Section 9 of the IBC. The Resolution Professional moved an application for the appointment of a liquidator after the Committee of Creditors (COC) resolved to commence liquidation due to the absence of a resolution plan under Section 30(6) of the IBC. The COC approved the liquidator's appointment with 93% consent, and the Tribunal confirmed the appointment of Mr. Akash Singhal as the liquidator. The liquidator's remuneration was reduced to 2.25 lakhs per month. An application for avoidance of transactions under Section 25(2J) read with Sections 43, 45, and 66 of the IBC was also filed. Shrey Patnaik accepted notice on behalf of respondent no. 11 and sought time for filing reply.
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The Committee of Creditors resolved to…
The Tribunal confirmed the appointment of Mr.…
The Resolution Professional moved an application for the appointment of a liquidator as the COC in its meeting on November 7, 2019, resolved to commence the liquidation process due to the absence of a resolution plan under Sub-section (6) of Section 30. The RP agreed and consented to act as liquidator. The Liquidator's remuneration was reduced from 3 Lakhs to 2.25 lakhs per month. 93% of the Committee of Creditors consented and voted in favor, which was confirmed by the Tribunal. The appointment of Mr. Akash Singhal as liquidator was confirmed, and he was directed to file his next progress report as per the terms of the IBC, 2016. Additionally, an application (IA-63/C-VI/ND/2019) was filed for avoidance of transactions under Section 25 (2J) read with Sections 43, 45,
…M/s. Amira Pure Foods Pvt. Ltd. is undergoing corporate insolvency resolution process under Section 9 of the IBC. The Resolution Professional moved an application for the appointment of a liquidator after the Committee of Creditors (COC) resolved to commence liquidation due to the absence of a resolution plan under Section 30(6) of the IBC. The COC approved the liquidator's appointment with 93% consent, and the Tribunal confirmed the appointment of Mr. Akash Singhal as the liquidator. The liquidator's remuneration was reduced to 2.25 lakhs per month. An application for avoidance of transactions under Section 25(2J) read with Sections 43, 45, and 66 of the IBC was also filed. Shrey Patnaik accepted notice on behalf of respondent no. 11 and sought time for filing reply.
The Committee of Creditors resolved to…
The Tribunal confirmed the appointment of Mr.…