The case involves an application (I.A. No.318 of 2020) filed in a corporate insolvency resolution process (CIRP) against M/s. Inmark Retail Private Limited. The main Company Petition (CP (IB) No.415/BB/2019) was initiated by Trend Arrest Clothing Pvt. Ltd. under Section 9 of the IBC, 2016, and was admitted on June 2, 2020. The Resolution Professional (RP) was initially Mr. Varun V.S., later replaced by Mr. M.V. Sudarshan. The Committee of Creditors (CoC) ultimately decided to liquidate the Corporate Debtor due to the inability to find resolution applicants and the erosion of the business's value.
Trend Arrest Clothing Pvt. Ltd. filed a company petition (CP (IB) No.415/BB/2019) against Inmark Retail Private Limited under Section 9 of the IBC, 2016. The petition was admitted on June 2, 2020, initiating the Corporate Insolvency Resolution Process (CIRP). Initially, Mr. Varun V.S. was appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. M.V. Sudarshan. The Resolution Professional (RP) assessed the financial status of Inmark Retail Private Limited, finding that its assets were worth Rs.10.08 lakhs. The estimated realizable value of the assets and liabilities was Rs.59.59 lakhs. The monthly CIRP costs exceeded this amount. The Committee of Creditors (CoC) met on August 10, 2020, and decided to liquidate the Corporate Debtor due to
…Sign in to view the parties.
Trend Arrest Clothing Pvt. Ltd. filed CP…
The Adjudicating Authority admitted the…
The case involves an application (I.A. No.318 of 2020) filed in a corporate insolvency resolution process (CIRP) against M/s. Inmark Retail Private Limited. The main Company Petition (CP (IB) No.415/BB/2019) was initiated by Trend Arrest Clothing Pvt. Ltd. under Section 9 of the IBC, 2016, and was admitted on June 2, 2020. The Resolution Professional (RP) was initially Mr. Varun V.S., later replaced by Mr. M.V. Sudarshan. The Committee of Creditors (CoC) ultimately decided to liquidate the Corporate Debtor due to the inability to find resolution applicants and the erosion of the business's value.
Trend Arrest Clothing Pvt. Ltd. filed a company petition (CP (IB) No.415/BB/2019) against Inmark Retail Private Limited under Section 9 of the IBC, 2016. The petition was admitted on June 2, 2020, initiating the Corporate Insolvency Resolution Process (CIRP). Initially, Mr. Varun V.S. was appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. M.V. Sudarshan. The Resolution Professional (RP) assessed the financial status of Inmark Retail Private Limited, finding that its assets were worth Rs.10.08 lakhs. The estimated realizable value of the assets and liabilities was Rs.59.59 lakhs. The monthly CIRP costs exceeded this amount. The Committee of Creditors (CoC) met on August 10, 2020, and decided to liquidate the Corporate Debtor due to
…Trend Arrest Clothing Pvt. Ltd. filed CP…
The Adjudicating Authority admitted the…