The case involves MA/1412/2019 filed in IBA/196/IB/2019 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, concerning M/s. Honeycomb Technologies Private Limited. The CIR process was initiated after an application under Section 9 of the I&B Code, 2016, by the Operational Creditor, K. Sundarrajan, was admitted on 2019-05-24. J. Manivannan was appointed as the Interim Resolution Professional (IRP).
M/s. Honeycomb Technologies Private Limited faced insolvency proceedings initiated by an operational creditor, K. Sundarrajan, under Section 9 of the I&B Code, 2016. The Corporate Insolvency Resolution Process (CIRP) commenced on 2019-05-24, and J. Manivannan was appointed as the Interim Resolution Professional (IRP). The IRP published notices inviting claims from creditors, receiving claims from Canara Bank and Oriental Bank of Commerce. The Committee of Creditors (CoC) was formed on 2019-06-20. During the CoC's first meeting on 2019-07-02, the feasibility of the Corporate Debtor's business was discussed. It was noted that the bank had already sold the main factory and substantial machinery under SARFAESI, leaving minimal realizable assets. The CoC decided on
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CIRP initiated against M/s. Honeycomb…
J. Manivannan appointed…
The case involves MA/1412/2019 filed in IBA/196/IB/2019 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, concerning M/s. Honeycomb Technologies Private Limited. The CIR process was initiated after an application under Section 9 of the I&B Code, 2016, by the Operational Creditor, K. Sundarrajan, was admitted on 2019-05-24. J. Manivannan was appointed as the Interim Resolution Professional (IRP).
M/s. Honeycomb Technologies Private Limited faced insolvency proceedings initiated by an operational creditor, K. Sundarrajan, under Section 9 of the I&B Code, 2016. The Corporate Insolvency Resolution Process (CIRP) commenced on 2019-05-24, and J. Manivannan was appointed as the Interim Resolution Professional (IRP). The IRP published notices inviting claims from creditors, receiving claims from Canara Bank and Oriental Bank of Commerce. The Committee of Creditors (CoC) was formed on 2019-06-20. During the CoC's first meeting on 2019-07-02, the feasibility of the Corporate Debtor's business was discussed. It was noted that the bank had already sold the main factory and substantial machinery under SARFAESI, leaving minimal realizable assets. The CoC decided on
…CIRP initiated against M/s. Honeycomb…
J. Manivannan appointed…