The case pertains to the insolvency resolution process of M/s. Hitech Engineering Corporation India Private Limited. An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was filed by the Operational Creditor, M/s. Mahavir Express Logistic. The application was admitted on 17.01.2018, and Mr. Laxman Digambar Pawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made, and claims were received from financial and operational creditors, as well as employees. The Committee of Creditors (CoC) was formed and held meetings. The IRP was continued as the Resolution Professional (RP). Valuation reports were obtained. Despite attempts to find a resolution plan, none were received, and the CoC voted in favor of liquidation.
M/s. Mahavir Express Logistic, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Hitech Engineering Corporation India Private Limited (the Corporate Debtor). The petition was admitted on 17.01.2018, and Mr. Laxman Digambar Pawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 17.02.2018. Claims were received from 1 financial creditor, 36 operational creditors, and 26 employees/workers. Later, claims were received from 3 more financial creditors. The Committee of Creditors (CoC) was reconstituted and included 4 members. Three CoC meetings were held between March and June 2018. The IRP was continued as the Resolution Professional (RP). Two registered valuers
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TCP No. 908/IBC/NCLT/MB/…
The petition…
The case pertains to the insolvency resolution process of M/s. Hitech Engineering Corporation India Private Limited. An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was filed by the Operational Creditor, M/s. Mahavir Express Logistic. The application was admitted on 17.01.2018, and Mr. Laxman Digambar Pawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made, and claims were received from financial and operational creditors, as well as employees. The Committee of Creditors (CoC) was formed and held meetings. The IRP was continued as the Resolution Professional (RP). Valuation reports were obtained. Despite attempts to find a resolution plan, none were received, and the CoC voted in favor of liquidation.
M/s. Mahavir Express Logistic, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Hitech Engineering Corporation India Private Limited (the Corporate Debtor). The petition was admitted on 17.01.2018, and Mr. Laxman Digambar Pawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 17.02.2018. Claims were received from 1 financial creditor, 36 operational creditors, and 26 employees/workers. Later, claims were received from 3 more financial creditors. The Committee of Creditors (CoC) was reconstituted and included 4 members. Three CoC meetings were held between March and June 2018. The IRP was continued as the Resolution Professional (RP). Two registered valuers
…TCP No. 908/IBC/NCLT/MB/…
The petition…