The case pertains to an application submitted by the Resolution Professional seeking an order for the dissolution of the Corporate Debtor, Dev Blessing Traders Private Limited, under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 14 of the IBBI (Liquidation Process) Regulations, 2017. The Corporate Debtor was admitted into CIRP following an application by Central Bank of India, a financial creditor. An order was passed on 01.12.2017 admitting the petition u/s 7 of the I&B Code and appointing a Resolution Professional. Subsequently, the Committee of Creditors approved liquidation on 28.05.2018, and an order u/s 33(2) was passed on 26.10.2018, allowing the Debtor Company to be liquidated.
Central Bank of India, a financial creditor, filed an application against Dev Blessing Traders Private Limited, the corporate debtor. The application was admitted on 01.12.2017, initiating the Corporate Insolvency Resolution Process (CIRP). Mr. Tejas Parikh was appointed as the Resolution Professional. The Committee of Creditors (CoC) approved liquidation on 28.05.2018. An order for liquidation was passed on 26.10.2018. The Resolution Professional, acting as Liquidator, reported that the Corporate Debtor had no assets for liquidation. Central Bank of India intended to recover its dues by proceeding against the personal guarantors under the SARFAESI Act, 2002. The Liquidator filed an application for early dissolution of the Corporate Debtor. The bank had granted
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Central Bank of India, a 'Financial Creditor',…
An Order was passed admitting the Petition…
The case pertains to an application submitted by the Resolution Professional seeking an order for the dissolution of the Corporate Debtor, Dev Blessing Traders Private Limited, under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 14 of the IBBI (Liquidation Process) Regulations, 2017. The Corporate Debtor was admitted into CIRP following an application by Central Bank of India, a financial creditor. An order was passed on 01.12.2017 admitting the petition u/s 7 of the I&B Code and appointing a Resolution Professional. Subsequently, the Committee of Creditors approved liquidation on 28.05.2018, and an order u/s 33(2) was passed on 26.10.2018, allowing the Debtor Company to be liquidated.
Central Bank of India, a financial creditor, filed an application against Dev Blessing Traders Private Limited, the corporate debtor. The application was admitted on 01.12.2017, initiating the Corporate Insolvency Resolution Process (CIRP). Mr. Tejas Parikh was appointed as the Resolution Professional. The Committee of Creditors (CoC) approved liquidation on 28.05.2018. An order for liquidation was passed on 26.10.2018. The Resolution Professional, acting as Liquidator, reported that the Corporate Debtor had no assets for liquidation. Central Bank of India intended to recover its dues by proceeding against the personal guarantors under the SARFAESI Act, 2002. The Liquidator filed an application for early dissolution of the Corporate Debtor. The bank had granted
…Central Bank of India, a 'Financial Creditor',…
An Order was passed admitting the Petition…