The case pertains to an application filed by M/s. Comfund Consulting Limited under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company claimed to have committed defaults in payments to micro and small enterprises, related parties, others, and statutory dues. The Board of Directors convened a meeting on 27.09.2019, resolving to file the application, which was later approved by the members in an Extra Ordinary General Meeting held on 27.09.2020.
M/s. Comfund Consulting Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company defaulted on payments including Rs. 54,000/- owed to micro and small enterprises, Rs. 36,67,988/- payable to related parties, and other amounts payable to others and as statutory dues. The Board of Directors convened a meeting on 27.09.2019, resolving to file the application, which was approved by the members on 27.09.2020. The company reported losses of Rs.12,61,722/- and Rs.3,600/- for the years ending 31.03.2020 and 30.06.2020, respectively. As of 31.03.2019, the company's total liabilities equaled its total assets. The applicant suggested Ms. Bhuvaneshwari Ramanathan
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The case pertains to an application filed by M/s. Comfund Consulting Limited under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company claimed to have committed defaults in payments to micro and small enterprises, related parties, others, and statutory dues. The Board of Directors convened a meeting on 27.09.2019, resolving to file the application, which was later approved by the members in an Extra Ordinary General Meeting held on 27.09.2020.
M/s. Comfund Consulting Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company defaulted on payments including Rs. 54,000/- owed to micro and small enterprises, Rs. 36,67,988/- payable to related parties, and other amounts payable to others and as statutory dues. The Board of Directors convened a meeting on 27.09.2019, resolving to file the application, which was approved by the members on 27.09.2020. The company reported losses of Rs.12,61,722/- and Rs.3,600/- for the years ending 31.03.2020 and 30.06.2020, respectively. As of 31.03.2019, the company's total liabilities equaled its total assets. The applicant suggested Ms. Bhuvaneshwari Ramanathan
…The Board of Directors of the Petitioner…
Ms. Bhuvaneshwari Ramanathan filed her written…
Sign in to view related legal provisions.