The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, M/s Awsum Proteins Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by Operational Creditor, Mr. Amit Verma, under Section 9 of the IBC, 2016, due to default. The Adjudicating Authority admitted the application on 03.03.2020 and appointed Mr. Manish Agarwal as the Interim Resolution Professional.
Mr. Amit Verma, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Awsum Proteins Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, due to a default. The Adjudicating Authority admitted the application on 03.03.2020. Mr. Manish Agarwal was appointed as the Interim Resolution Professional. A public announcement was made on 06.11.2020, inviting claims from creditors. The Committee of Creditors (CoC) was formed, and its first meeting was held on 05.12.2020. During the second CoC meeting on 27.01.2021, it was determined that the Corporate Debtor lacked assets and plant and machinery, and its operations had ceased for over three years, rendering the CIRP unfeasible. Consequently, the CoC voted with a 98.2%
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The Adjudicating Authority admitted the…
The Interim Resolution Professional (IRP)…
The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, M/s Awsum Proteins Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by Operational Creditor, Mr. Amit Verma, under Section 9 of the IBC, 2016, due to default. The Adjudicating Authority admitted the application on 03.03.2020 and appointed Mr. Manish Agarwal as the Interim Resolution Professional.
Mr. Amit Verma, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Awsum Proteins Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, due to a default. The Adjudicating Authority admitted the application on 03.03.2020. Mr. Manish Agarwal was appointed as the Interim Resolution Professional. A public announcement was made on 06.11.2020, inviting claims from creditors. The Committee of Creditors (CoC) was formed, and its first meeting was held on 05.12.2020. During the second CoC meeting on 27.01.2021, it was determined that the Corporate Debtor lacked assets and plant and machinery, and its operations had ceased for over three years, rendering the CIRP unfeasible. Consequently, the CoC voted with a 98.2%
…The Adjudicating Authority admitted the…
The Interim Resolution Professional (IRP)…