The case involves an application (IA/610/CHE/2021) filed in the matter of the insolvency resolution process of M/s. Chowel India Private Limited (IBA/1121/2019). The applicant, Nithiyanantham Ramachandran, the Resolution Professional (RP), sought an order for the liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated, and the RP was appointed on 05.05.2020. Public announcement was made, and the Committee of Creditors (CoC) was constituted. Several CoC meetings were held, and ultimately, the CoC decided with 100% majority to liquidate the Corporate Debtor, as they believed the company was not operating and there was no visibility of revival.
M/s. Chowel India Private Limited underwent Corporate Insolvency Resolution Process (CIRP). Nithiyanantham Ramachandran was appointed as the Resolution Professional (RP) on 05.05.2020. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted on 24.10.2019. Several CoC meetings took place. The 4th CoC meeting was cancelled due to lockdown. In the 5th CoC meeting on 07.12.2020, further steps on the CIRP were discussed. The CIRP period was extended by excluding the Covid-19 lockdown period up to 15.10.2020. In the 8th CoC meeting on 28.04.2021, with 100% majority, a decision was made to liquidate the Corporate Debtor. The CoC viewed that the Corporate Debtor was not operating and there was no visibility of revival.
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Plant 2 of M/s. Chowel…
Leased items, including…
The case involves an application (IA/610/CHE/2021) filed in the matter of the insolvency resolution process of M/s. Chowel India Private Limited (IBA/1121/2019). The applicant, Nithiyanantham Ramachandran, the Resolution Professional (RP), sought an order for the liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated, and the RP was appointed on 05.05.2020. Public announcement was made, and the Committee of Creditors (CoC) was constituted. Several CoC meetings were held, and ultimately, the CoC decided with 100% majority to liquidate the Corporate Debtor, as they believed the company was not operating and there was no visibility of revival.
M/s. Chowel India Private Limited underwent Corporate Insolvency Resolution Process (CIRP). Nithiyanantham Ramachandran was appointed as the Resolution Professional (RP) on 05.05.2020. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted on 24.10.2019. Several CoC meetings took place. The 4th CoC meeting was cancelled due to lockdown. In the 5th CoC meeting on 07.12.2020, further steps on the CIRP were discussed. The CIRP period was extended by excluding the Covid-19 lockdown period up to 15.10.2020. In the 8th CoC meeting on 28.04.2021, with 100% majority, a decision was made to liquidate the Corporate Debtor. The CoC viewed that the Corporate Debtor was not operating and there was no visibility of revival.
…Plant 2 of M/s. Chowel…
Leased items, including…