The case pertains to an Interlocutory Application (IA 311/2021) filed by the Resolution Professional (RP) for the liquidation of the Corporate Debtor, M/s. Bansal Shipping Private Limited. The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) following an order dated 2020-12-08. The CIRP commenced on the same date, and a public announcement was made inviting claims. Only one claim was filed by an Operational Creditor. The Committee of Creditors (COC) was formed, comprising one unsecured Operational Creditor with 100% voting rights. The COC resolved to appoint the applicant as the RP. The RP informed that the Corporate Debtor had no fixed assets. The COC resolved not to publish Form-G due to the absence of assets. The COC then
…The Corporate Debtor, M/s. Bansal Shipping Private Limited, was admitted into CIRP on 2020-12-08. A public announcement was made to invite claims, with a deadline of 2020-12-23. Only one claim of Rs. 5,25,000/- was filed by an Operational Creditor. The COC, consisting of a single unsecured Operational Creditor, held its first meeting on 2021-01-06, resolving to appoint the applicant as the RP. The RP informed the COC that the Corporate Debtor had no fixed assets. In the second COC meeting on 2021-02-04, it was decided not to publish Form-G due to the lack of assets. In the third meeting on 2021-04-06, the COC resolved to initiate the liquidation process and appoint the RP as Liquidator, approving liquidation costs of Rs. 80,000/-. The RP informed the COC that the
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Corporate Debtor admitted into Corporate…
Corporate Ins…
The case pertains to an Interlocutory Application (IA 311/2021) filed by the Resolution Professional (RP) for the liquidation of the Corporate Debtor, M/s. Bansal Shipping Private Limited. The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) following an order dated 2020-12-08. The CIRP commenced on the same date, and a public announcement was made inviting claims. Only one claim was filed by an Operational Creditor. The Committee of Creditors (COC) was formed, comprising one unsecured Operational Creditor with 100% voting rights. The COC resolved to appoint the applicant as the RP. The RP informed that the Corporate Debtor had no fixed assets. The COC resolved not to publish Form-G due to the absence of assets. The COC then
…The Corporate Debtor, M/s. Bansal Shipping Private Limited, was admitted into CIRP on 2020-12-08. A public announcement was made to invite claims, with a deadline of 2020-12-23. Only one claim of Rs. 5,25,000/- was filed by an Operational Creditor. The COC, consisting of a single unsecured Operational Creditor, held its first meeting on 2021-01-06, resolving to appoint the applicant as the RP. The RP informed the COC that the Corporate Debtor had no fixed assets. In the second COC meeting on 2021-02-04, it was decided not to publish Form-G due to the lack of assets. In the third meeting on 2021-04-06, the COC resolved to initiate the liquidation process and appoint the RP as Liquidator, approving liquidation costs of Rs. 80,000/-. The RP informed the COC that the
…Corporate Debtor admitted into Corporate…
Corporate Ins…