The case involves a petition filed by M/s. Glopore IM Services Pvt. Ltd. (Corporate Applicant) under Section 10 of the IBC, 2016, seeking initiation of CIRP due to a default of Rs. 6,51,64,491/-. The Adjudicating Authority admitted the petition on 2019-06-26 and appointed Shri Venkataraman Jayagopal as the IRP. The IRP was later appointed as RP. The Committee of Creditors (CoC) resolved to file an IA for liquidation under Section 33(2) of the IB Code, as the company had no fixed assets except an intangible asset with no market value. The CoC then resolved for dissolution of the Corporate Debtor.
M/s. Glopore IM Services Pvt. Ltd. (Corporate Applicant) filed a petition under Section 10 of the IBC, 2016, due to a default of Rs. 6,51,64,491/-. The petition was admitted on 2019-06-26, and Shri Venkataraman Jayagopal was appointed as IRP and later as RP. The time limit for completion of the Insolvency Resolution Process was December 23rd, 2019. The Committee of Creditors (CoC) resolved to file an IA for liquidation under Section 33(2) of the IB Code because the company had no fixed assets except an intangible asset with no market value. The CoC held meetings on 2019-12-11 to consider the resolution for dissolution. The Resolution Professional filed a report on the assets and liabilities of the company as of 2019-06-26. The company's assets included cash and cash
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C.P.(IB)No.206…
Petition admitt…
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The case involves a petition filed by M/s. Glopore IM Services Pvt. Ltd. (Corporate Applicant) under Section 10 of the IBC, 2016, seeking initiation of CIRP due to a default of Rs. 6,51,64,491/-. The Adjudicating Authority admitted the petition on 2019-06-26 and appointed Shri Venkataraman Jayagopal as the IRP. The IRP was later appointed as RP. The Committee of Creditors (CoC) resolved to file an IA for liquidation under Section 33(2) of the IB Code, as the company had no fixed assets except an intangible asset with no market value. The CoC then resolved for dissolution of the Corporate Debtor.
M/s. Glopore IM Services Pvt. Ltd. (Corporate Applicant) filed a petition under Section 10 of the IBC, 2016, due to a default of Rs. 6,51,64,491/-. The petition was admitted on 2019-06-26, and Shri Venkataraman Jayagopal was appointed as IRP and later as RP. The time limit for completion of the Insolvency Resolution Process was December 23rd, 2019. The Committee of Creditors (CoC) resolved to file an IA for liquidation under Section 33(2) of the IB Code because the company had no fixed assets except an intangible asset with no market value. The CoC held meetings on 2019-12-11 to consider the resolution for dissolution. The Resolution Professional filed a report on the assets and liabilities of the company as of 2019-06-26. The company's assets included cash and cash
…C.P.(IB)No.206…
Petition admitt…
Sign in to view related legal provisions.