The case involves M/s. Apna Scientific Supplies Private Limited, a corporate debtor undergoing CIRP. Initially, M/s. Balaji Tech Industries, an operational creditor, filed CP/811/IB/2018, which was admitted on 2018-08-10, initiating the CIRP. An Interim Resolution Professional (IRP), Mr. Gopala Krishna Raju, was appointed, who was later replaced by Mr. Ramachandran Balachandran. The IRP took over management, issued newspaper publications to invite claims, and constituted the Committee of Creditors (CoC). The CoC decided to seek an extension of time for approving a resolution plan. However, the Resolution Professional found that the Corporate Debtor had no assets and only liabilities, precluding the preparation of an Information Memorandum or a viable resolution plan.

The case involves M/s. Apna Scientific Supplies Private Limited, a corporate debtor undergoing CIRP. Initially, M/s. Balaji Tech Industries, an operational creditor, filed CP/811/IB/2018, which was admitted on 2018-08-10, initiating the CIRP. An Interim Resolution Professional (IRP), Mr. Gopala Krishna Raju, was appointed, who was later replaced by Mr. Ramachandran Balachandran. The IRP took over management, issued newspaper publications to invite claims, and constituted the Committee of Creditors (CoC). The CoC decided to seek an extension of time for approving a resolution plan. However, the Resolution Professional found that the Corporate Debtor had no assets and only liabilities, precluding the preparation of an Information Memorandum or a viable resolution plan.