The case involves an application for liquidation of Inland Facilities Management Private Limited, initiated under Section 33(2) and Section 60 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was triggered by M/s. Sai Marketing, an Operational Creditor. The initial petition was admitted, and an Interim Resolution Professional (IRP) was appointed, later replaced by Shri C. Ramasubramanian as the Resolution Professional (RP).
M/s. Sai Marketing, an Operational Creditor, filed an application under the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Inland Facilities Management Private Limited (Corporate Debtor). The application was admitted, and Ms. A. Satyadevi was initially appointed as the Interim Resolution Professional (IRP). Subsequently, Shri C. Ramasubramanian replaced her as the Resolution Professional (RP). During the CIRP, no viable resolution plan emerged. The Committee of Creditors (CoC) unanimously resolved in its 8th meeting to liquidate the Corporate Debtor and recommended the RP to act as the liquidator. The RP then filed an application before the Adjudicating Authority for liquidation. The Adjudicating
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The case involves an application for liquidation of Inland Facilities Management Private Limited, initiated under Section 33(2) and Section 60 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was triggered by M/s. Sai Marketing, an Operational Creditor. The initial petition was admitted, and an Interim Resolution Professional (IRP) was appointed, later replaced by Shri C. Ramasubramanian as the Resolution Professional (RP).
M/s. Sai Marketing, an Operational Creditor, filed an application under the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Inland Facilities Management Private Limited (Corporate Debtor). The application was admitted, and Ms. A. Satyadevi was initially appointed as the Interim Resolution Professional (IRP). Subsequently, Shri C. Ramasubramanian replaced her as the Resolution Professional (RP). During the CIRP, no viable resolution plan emerged. The Committee of Creditors (CoC) unanimously resolved in its 8th meeting to liquidate the Corporate Debtor and recommended the RP to act as the liquidator. The RP then filed an application before the Adjudicating Authority for liquidation. The Adjudicating
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The Adjudicating…