The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Boss Profiles Limited. The Resolution Professional (RP), Mr. V. Nagarajan, filed a memo before the Adjudicating Authority. During the Committee of Creditors (CoC) meetings, it was determined that no viable Corporate Resolution Plan could be evolved. Mr. Shaikh Akhtar Ali, Ex Director of Boss Profiles Limited, opined that restarting the business was not feasible due to the condition of the plant and machinery and the heavy interest costs. The CoC recommended liquidation. The Adjudicating Authority, based on the affidavit filed by the RP and exercising powers under Section 33(1)(a) of the I&B Code, 2016, ordered the liquidation of the Corporate Debtor. The order also appointed Mr. V.

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Boss Profiles Limited. The Resolution Professional (RP), Mr. V. Nagarajan, filed a memo before the Adjudicating Authority. During the Committee of Creditors (CoC) meetings, it was determined that no viable Corporate Resolution Plan could be evolved. Mr. Shaikh Akhtar Ali, Ex Director of Boss Profiles Limited, opined that restarting the business was not feasible due to the condition of the plant and machinery and the heavy interest costs. The CoC recommended liquidation. The Adjudicating Authority, based on the affidavit filed by the RP and exercising powers under Section 33(1)(a) of the I&B Code, 2016, ordered the liquidation of the Corporate Debtor. The order also appointed Mr. V.