The case pertains to an application moved by the Resolution Professional (RP) under Section 33(2) read with Section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking liquidation of the Corporate Debtor. The Committee of Creditors (COC) had decided to liquidate the Corporate Debtor in its 7th meeting held on 28.2.2019 and recommended the name of the RP to act as the Liquidator. The Corporate Debtor was involved in the freight forwarding business. The order of admission was passed on 31.7.2018, and the CIR process commenced from that date. The Tribunal had excluded 41 days from the CIR process, extending the period of completion.
Air Shagoon (Network) (P) Ltd initiated a corporate insolvency resolution process (CIRP) against Associated Trade Logistics (P) Ltd. The order of admission was passed on 2018-07-31. The Committee of Creditors (COC) resolved to liquidate the Corporate Debtor in its 7th meeting held on 2019-02-28. The Resolution Professional (RP) filed an application under Section 33(2) read with Section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking liquidation of the Corporate Debtor. The Corporate Debtor was involved in the freight forwarding business. The Corporate Debtor was not carrying out any activities for a period of more than two years while the application was pending before the Tribunal. The Tribunal excluded 41 days from the CIR process, extending the
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The case pertains to an application moved by the Resolution Professional (RP) under Section 33(2) read with Section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking liquidation of the Corporate Debtor. The Committee of Creditors (COC) had decided to liquidate the Corporate Debtor in its 7th meeting held on 28.2.2019 and recommended the name of the RP to act as the Liquidator. The Corporate Debtor was involved in the freight forwarding business. The order of admission was passed on 31.7.2018, and the CIR process commenced from that date. The Tribunal had excluded 41 days from the CIR process, extending the period of completion.
Air Shagoon (Network) (P) Ltd initiated a corporate insolvency resolution process (CIRP) against Associated Trade Logistics (P) Ltd. The order of admission was passed on 2018-07-31. The Committee of Creditors (COC) resolved to liquidate the Corporate Debtor in its 7th meeting held on 2019-02-28. The Resolution Professional (RP) filed an application under Section 33(2) read with Section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking liquidation of the Corporate Debtor. The Corporate Debtor was involved in the freight forwarding business. The Corporate Debtor was not carrying out any activities for a period of more than two years while the application was pending before the Tribunal. The Tribunal excluded 41 days from the CIR process, extending the
…Order of admis…
1st COC Meeti…