The case involves an application filed by the Resolution Professional (RP) upon the instructions of the Committee of Creditors (CoC) seeking liquidation of the Corporate Debtor, Axiom Estates Advisory Services Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by The Press Trust of India Limited (operational creditor) under section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had previously ordered the initiation of CIRP and appointed an Interim Resolution Professional (IRP).
The Press Trust of India Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Axiom Estates Advisory Services Private Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional (IRP) was appointed. A Committee of Creditors (CoC) was formed, initially with two and later three Operational Creditors. The CoC resolved that Axiom Estates Advisory Services Private Limited was not a going concern and decided to liquidate the company. In a meeting held on January 27, 2020, the CoC resolved to liquidate the Corporate Debtor. The CoC passed a resolution for liquidation with 97.47% voting share. The Resolution Professional then filed an application seeking liquidation. The
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The Adjudicating Authority ordered the…
Public announcement was made in Financial…
The case involves an application filed by the Resolution Professional (RP) upon the instructions of the Committee of Creditors (CoC) seeking liquidation of the Corporate Debtor, Axiom Estates Advisory Services Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by The Press Trust of India Limited (operational creditor) under section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had previously ordered the initiation of CIRP and appointed an Interim Resolution Professional (IRP).
The Press Trust of India Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Axiom Estates Advisory Services Private Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional (IRP) was appointed. A Committee of Creditors (CoC) was formed, initially with two and later three Operational Creditors. The CoC resolved that Axiom Estates Advisory Services Private Limited was not a going concern and decided to liquidate the company. In a meeting held on January 27, 2020, the CoC resolved to liquidate the Corporate Debtor. The CoC passed a resolution for liquidation with 97.47% voting share. The Resolution Professional then filed an application seeking liquidation. The
…The Adjudicating Authority ordered the…
Public announcement was made in Financial…