The Corporate Insolvency Resolution Process (CIRP) for Galaxy Cosmetics Pvt. Ltd. was initiated on August 30, 2018, and Mr. Mathur Sabhapathy Viswanathan was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP) on October 1, 2018. The Corporate Debtor initially failed to submit its books of accounts, providing only a balance sheet on November 12, 2018, and the full books on January 12, 2019.

Upon reviewing the Corporate Debtor's books, the RP discovered that Sri Annamalaiyar Products, the Respondent, owed Rs. 72,988.64 to the Corporate Debtor. The RP subsequently approached the Respondent for a refund. On April 15, 2019, liquidation was ordered in MA/285/2019, and the Applicant was appointed as the Liquidator.

The Corporate Insolvency Resolution Process (CIRP) for Galaxy Cosmetics Pvt. Ltd. was initiated on August 30, 2018, and Mr. Mathur Sabhapathy Viswanathan was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP) on October 1, 2018. The Corporate Debtor initially failed to submit its books of accounts, providing only a balance sheet on November 12, 2018, and the full books on January 12, 2019.

Upon reviewing the Corporate Debtor's books, the RP discovered that Sri Annamalaiyar Products, the Respondent, owed Rs. 72,988.64 to the Corporate Debtor. The RP subsequently approached the Respondent for a refund. On April 15, 2019, liquidation was ordered in MA/285/2019, and the Applicant was appointed as the Liquidator.