The case involves the Corporate Insolvency Resolution Process (CIRP) of Flowline Instrumentation Private Limited. The CIRP was initiated by Swan Analytische Instrumente AG, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the application on 23.10.2019 and appointed Mr. Hari Babu Thota as the Interim Resolution Professional (IRP), imposing a moratorium under Section 14 of the Code. Public announcement was made inviting claims from creditors. The Committee of Creditors (CoC) was formed, consisting of Indian Bank and M.V.G. Chits Private Limited. The IRP was confirmed as the Resolution Professional (RP). The RP appointed registered valuers to determine the fair value and liquidation value of
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Flowline Instrumentation Private Limited based on an application filed by Swan Analytische Instrumente AG, an operational creditor, under Section 9 of the IBC. The application was admitted on 23.10.2019, and Mr. Hari Babu Thota was appointed as the Interim Resolution Professional (IRP). A moratorium was imposed under Section 14 of the IBC. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted, comprising Indian Bank (holding 81% voting share) and M.V.G. Chits Private Limited (holding 19% voting share). Mr. Hari Babu Thota was confirmed as the Resolution Professional (RP). The RP appointed registered valuers to assess the fair value and
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The Adjudicating Authority admitted the…
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The case involves the Corporate Insolvency Resolution Process (CIRP) of Flowline Instrumentation Private Limited. The CIRP was initiated by Swan Analytische Instrumente AG, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the application on 23.10.2019 and appointed Mr. Hari Babu Thota as the Interim Resolution Professional (IRP), imposing a moratorium under Section 14 of the Code. Public announcement was made inviting claims from creditors. The Committee of Creditors (CoC) was formed, consisting of Indian Bank and M.V.G. Chits Private Limited. The IRP was confirmed as the Resolution Professional (RP). The RP appointed registered valuers to determine the fair value and liquidation value of
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Flowline Instrumentation Private Limited based on an application filed by Swan Analytische Instrumente AG, an operational creditor, under Section 9 of the IBC. The application was admitted on 23.10.2019, and Mr. Hari Babu Thota was appointed as the Interim Resolution Professional (IRP). A moratorium was imposed under Section 14 of the IBC. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted, comprising Indian Bank (holding 81% voting share) and M.V.G. Chits Private Limited (holding 19% voting share). Mr. Hari Babu Thota was confirmed as the Resolution Professional (RP). The RP appointed registered valuers to assess the fair value and
…The Adjudicating Authority admitted the…
Public announcement was…