The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, for the liquidation of Devansh International Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by an Operational Creditor, Mr. Jani Mitkumar Anantray, under Section 9 of the IBC. The Adjudicating Authority admitted the CIRP on 16.12.2019 and appointed CA Tejas Shah as the Interim Resolution Professional (IRP).
Mr. Jani Mitkumar Anantray, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Devansh International Private Limited under Section 9 of the IBC. The Adjudicating Authority admitted the CIRP application on 16.12.2019 and appointed CA Tejas Shah as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided on 20.01.2020 to continue with the IRP as RP. In a subsequent meeting on 24.02.2020, the CoC, with 100% voting share, resolved to liquidate the Corporate Debtor because it lacked tangible or intangible assets and was not conducting business. The CoC decided to file an application for liquidation under Section 33 of the IBC. The Adjudicating Authority found that the company had no business or assets except
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Adjudicating Authority admitted the…
Committee of Creditors…
The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, for the liquidation of Devansh International Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by an Operational Creditor, Mr. Jani Mitkumar Anantray, under Section 9 of the IBC. The Adjudicating Authority admitted the CIRP on 16.12.2019 and appointed CA Tejas Shah as the Interim Resolution Professional (IRP).
Mr. Jani Mitkumar Anantray, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Devansh International Private Limited under Section 9 of the IBC. The Adjudicating Authority admitted the CIRP application on 16.12.2019 and appointed CA Tejas Shah as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided on 20.01.2020 to continue with the IRP as RP. In a subsequent meeting on 24.02.2020, the CoC, with 100% voting share, resolved to liquidate the Corporate Debtor because it lacked tangible or intangible assets and was not conducting business. The CoC decided to file an application for liquidation under Section 33 of the IBC. The Adjudicating Authority found that the company had no business or assets except
…Adjudicating Authority admitted the…
Committee of Creditors…