The case involves an application filed by Poonam Kachalia, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Hari Machines Limited, claiming an outstanding amount of Rs. 42,90,719.85. The application was initially admitted, and an Interim Resolution Professional (IRP), Mr. Nirupam Halder, was appointed. The Committee of Creditors (CoC) later rejected the proposal for extending the CIRP period, leading the Resolution Professional to file a final Progress Report requesting liquidation.
Poonam Kachalia, operating as Poonam Electricals, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Hari Machines Limited, claiming an outstanding debt of Rs. 42,90,719.85. The application was initially admitted on 2018-05-15, and Mr. Nirupam Halder was appointed as the Interim Resolution Professional (IRP). Mr. Halder conducted the resolution process and issued a public announcement. However, no resolution plan was received. The Committee of Creditors (CoC), in its 9th meeting on 2018-10-29, rejected the proposal for extending the CIRP period with a 73.3% vote share. The Resolution Professional, despite noting that the Corporate Debtor had a good factory, was compelled to file a final Progress Report requesting liquidation. The
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Application filed by…
Mr. Nirupam Halder…
The case involves an application filed by Poonam Kachalia, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Hari Machines Limited, claiming an outstanding amount of Rs. 42,90,719.85. The application was initially admitted, and an Interim Resolution Professional (IRP), Mr. Nirupam Halder, was appointed. The Committee of Creditors (CoC) later rejected the proposal for extending the CIRP period, leading the Resolution Professional to file a final Progress Report requesting liquidation.
Poonam Kachalia, operating as Poonam Electricals, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Hari Machines Limited, claiming an outstanding debt of Rs. 42,90,719.85. The application was initially admitted on 2018-05-15, and Mr. Nirupam Halder was appointed as the Interim Resolution Professional (IRP). Mr. Halder conducted the resolution process and issued a public announcement. However, no resolution plan was received. The Committee of Creditors (CoC), in its 9th meeting on 2018-10-29, rejected the proposal for extending the CIRP period with a 73.3% vote share. The Resolution Professional, despite noting that the Corporate Debtor had a good factory, was compelled to file a final Progress Report requesting liquidation. The
…Application filed by…
Mr. Nirupam Halder…