The case involves the liquidation process of a Corporate Debtor. During the process, the Applicants, Mr. Jeparaj and Mr. Robson, settled with the Secured Creditors and purchased the assets of the Corporate Debtor as a 'going concern' under the supervision of the Financial Creditors. A report was filed by the Liquidator. The Financial Creditors held a meeting on 2019-06-11 and passed a resolution approving the resolution plan submitted by the Applicants, subject to certain conditions.
The Applicants, Mr. Jeparaj and Mr. Robson, settled with the Secured Creditors and purchased the assets of the Corporate Debtor as a 'going concern' under the supervision of the Financial Creditors. The Financial Creditors held a meeting on 2019-06-11 and passed a resolution approving the resolution plan submitted by the Applicants, subject to the Applicants furnishing an affidavit/performance guarantee to deal with the liabilities proposed to be waived off in the plan. The resolution plan involved the Applicants taking over the Corporate Debtor as a going concern with certain concessions. The court closed the liquidation proceedings as there was no requirement to dissolve the Corporate Debtor, which was taken over by the Applicants as a 'going concern'. The Applicants
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TCP/385/2017 p…
Meeting of the Financial Creditors held where…
The case involves the liquidation process of a Corporate Debtor. During the process, the Applicants, Mr. Jeparaj and Mr. Robson, settled with the Secured Creditors and purchased the assets of the Corporate Debtor as a 'going concern' under the supervision of the Financial Creditors. A report was filed by the Liquidator. The Financial Creditors held a meeting on 2019-06-11 and passed a resolution approving the resolution plan submitted by the Applicants, subject to certain conditions.
The Applicants, Mr. Jeparaj and Mr. Robson, settled with the Secured Creditors and purchased the assets of the Corporate Debtor as a 'going concern' under the supervision of the Financial Creditors. The Financial Creditors held a meeting on 2019-06-11 and passed a resolution approving the resolution plan submitted by the Applicants, subject to the Applicants furnishing an affidavit/performance guarantee to deal with the liabilities proposed to be waived off in the plan. The resolution plan involved the Applicants taking over the Corporate Debtor as a going concern with certain concessions. The court closed the liquidation proceedings as there was no requirement to dissolve the Corporate Debtor, which was taken over by the Applicants as a 'going concern'. The Applicants
…TCP/385/2017 p…
Meeting of the Financial Creditors held where…