The application was filed under sections 33 and 34 of the IB Code, seeking liquidation of the Corporate Debtor. No Expression of Interest (EOI) was received by the applicant. The Committee of Creditors (COC) deliberated that the Corporate Debtor does not have significant assets except book debts. The COC concluded that revival and resolution were not feasible, leaving liquidation as the only viable option. The COC, in its 7th meeting held on 2020-09-30, decided to send the company under liquidation and authorized the RP to file an application for a liquidation order from the Adjudicating Authority.
The Corporate Debtor, DBS Affordable Home Strategy Ltd, faced Corporate Insolvency Resolution Process (CIRP). No Expression of Interest (EOI) was received for the Corporate Debtor. The Committee of Creditors (COC) determined that the Corporate Debtor possessed no significant assets beyond book debts, rendering revival or resolution unfeasible. Consequently, the COC resolved in its 7th meeting on 2020-09-30 to initiate liquidation proceedings. The Resolution Professional (RP) was authorized to seek a liquidation order from the Adjudicating Authority. All operational creditors, numbering two, were present during the COC meeting. The Adjudicating Authority observed no objections to the liquidation. The COC held 100% of the voting share. The RP filed an application under
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The COC decided to send the company under…
The Adjudicating Authority passed an order for…
The application was filed under sections 33 and 34 of the IB Code, seeking liquidation of the Corporate Debtor. No Expression of Interest (EOI) was received by the applicant. The Committee of Creditors (COC) deliberated that the Corporate Debtor does not have significant assets except book debts. The COC concluded that revival and resolution were not feasible, leaving liquidation as the only viable option. The COC, in its 7th meeting held on 2020-09-30, decided to send the company under liquidation and authorized the RP to file an application for a liquidation order from the Adjudicating Authority.
The Corporate Debtor, DBS Affordable Home Strategy Ltd, faced Corporate Insolvency Resolution Process (CIRP). No Expression of Interest (EOI) was received for the Corporate Debtor. The Committee of Creditors (COC) determined that the Corporate Debtor possessed no significant assets beyond book debts, rendering revival or resolution unfeasible. Consequently, the COC resolved in its 7th meeting on 2020-09-30 to initiate liquidation proceedings. The Resolution Professional (RP) was authorized to seek a liquidation order from the Adjudicating Authority. All operational creditors, numbering two, were present during the COC meeting. The Adjudicating Authority observed no objections to the liquidation. The COC held 100% of the voting share. The RP filed an application under
…The COC decided to send the company under…
The Adjudicating Authority passed an order for…