The case pertains to CP No. 1284/IBC/NCLT/MB/MAH/2017 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Central Bank of India (Financial Creditor) against M/s. Dev Blessing Traders Private Limited (Corporate Debtor). The petition was admitted on 2017-12-01, and Mr. Tejas Jatin Parikh was appointed as the Interim Resolution Professional (IRP). Public announcement was made on 2017-12-16 and 2017-12-17. The IRP received only one claim from the Central Bank of India amounting to ₹5,41,57,322. The Committee of Creditors (CoC) was formed with Central Bank of India as the sole member. The CoC conducted six meetings. The Corporate Debtor had not filed financials with the RoC and had limited fixed assets. The CoC decided to go for liquidation due to the lack
…M/s. Dev Blessing Traders Private Limited (Corporate Debtor) faced insolvency proceedings initiated by Central Bank of India (Financial Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor's petition was admitted on 2017-12-01. The IRP, Mr. Tejas Jatin Parikh, made public announcements on 2017-12-16 and 2017-12-17. The Financial Creditor's claim amounted to ₹5,41,57,322. The Corporate Debtor had limited assets, valued at approximately ₹73,813 as of 2014-03-31. The CoC, consisting solely of Central Bank of India, voted for liquidation on 2018-05-28 due to the absence of a viable resolution plan. The Financial Creditor is also pursuing actions against the personal guarantors of the Corporate Debtor under the SARFAESI Act, 2002, as
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The petition filed by Central Bank of India…
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The case pertains to CP No. 1284/IBC/NCLT/MB/MAH/2017 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Central Bank of India (Financial Creditor) against M/s. Dev Blessing Traders Private Limited (Corporate Debtor). The petition was admitted on 2017-12-01, and Mr. Tejas Jatin Parikh was appointed as the Interim Resolution Professional (IRP). Public announcement was made on 2017-12-16 and 2017-12-17. The IRP received only one claim from the Central Bank of India amounting to ₹5,41,57,322. The Committee of Creditors (CoC) was formed with Central Bank of India as the sole member. The CoC conducted six meetings. The Corporate Debtor had not filed financials with the RoC and had limited fixed assets. The CoC decided to go for liquidation due to the lack
…M/s. Dev Blessing Traders Private Limited (Corporate Debtor) faced insolvency proceedings initiated by Central Bank of India (Financial Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor's petition was admitted on 2017-12-01. The IRP, Mr. Tejas Jatin Parikh, made public announcements on 2017-12-16 and 2017-12-17. The Financial Creditor's claim amounted to ₹5,41,57,322. The Corporate Debtor had limited assets, valued at approximately ₹73,813 as of 2014-03-31. The CoC, consisting solely of Central Bank of India, voted for liquidation on 2018-05-28 due to the absence of a viable resolution plan. The Financial Creditor is also pursuing actions against the personal guarantors of the Corporate Debtor under the SARFAESI Act, 2002, as
…The petition filed by Central Bank of India…
Public announcement was…