The case involves an application filed by the Resolution Professional seeking an order for the commencement of liquidation process for the Corporate Debtor, Apex Engineering Solution & Services Pvt. Ltd. National Commercial Corporation, an Operational Creditor, had previously filed a petition under Section 9 of the I&B Code for an outstanding debt of ₹11,45,788/-. The Operational Creditor's petition was admitted on 19.07.2017, and Mr. Jitesh Gupta was appointed as the Interim Resolution Professional (IRP), initiating a moratorium.
National Commercial Corporation (Operational Creditor) filed a petition under Section 9 of the I&B Code against Apex Engineering Solution & Services Pvt. Ltd. (Corporate Debtor) for an outstanding debt of ₹11,45,788/-. The petition was admitted on 19.07.2017, and Mr. Jitesh Gupta was appointed as the Interim Resolution Professional (IRP), initiating a moratorium. The IRP advertised the insolvency proceedings, inviting expressions of interest, and Dombivali Nagarik Sahakari Bank lodged a claim of ₹13,08,01,117/-. Meetings of the Committee of Creditors (CoC) were held, and the IRP was appointed as the Resolution Professional on 06.12.2017. Despite these efforts, no resolution plan was submitted. Consequently, the CoC decided on 12.03.2018 to initiate liquidation
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The petition of the Operational Creditor,…
The IRP was appointed…
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The case involves an application filed by the Resolution Professional seeking an order for the commencement of liquidation process for the Corporate Debtor, Apex Engineering Solution & Services Pvt. Ltd. National Commercial Corporation, an Operational Creditor, had previously filed a petition under Section 9 of the I&B Code for an outstanding debt of ₹11,45,788/-. The Operational Creditor's petition was admitted on 19.07.2017, and Mr. Jitesh Gupta was appointed as the Interim Resolution Professional (IRP), initiating a moratorium.
National Commercial Corporation (Operational Creditor) filed a petition under Section 9 of the I&B Code against Apex Engineering Solution & Services Pvt. Ltd. (Corporate Debtor) for an outstanding debt of ₹11,45,788/-. The petition was admitted on 19.07.2017, and Mr. Jitesh Gupta was appointed as the Interim Resolution Professional (IRP), initiating a moratorium. The IRP advertised the insolvency proceedings, inviting expressions of interest, and Dombivali Nagarik Sahakari Bank lodged a claim of ₹13,08,01,117/-. Meetings of the Committee of Creditors (CoC) were held, and the IRP was appointed as the Resolution Professional on 06.12.2017. Despite these efforts, no resolution plan was submitted. Consequently, the CoC decided on 12.03.2018 to initiate liquidation
…The petition of the Operational Creditor,…
The IRP was appointed…
Sign in to view related legal provisions.