The case involves an application (MA 1111/2018) to pass an order under section 33(2) of the Insolvency Code. The Resolution Professional (RP) is present with the Learned Representative. The Corporate Insolvency Resolution Process (CIRP) proceeded with a Committee of Creditors (COC) consisting of only one member, the Petitioner creditor. The RP declared that there was no Resolution Plan, and the only remaining asset was the factory premise and land. The COC decided to liquidate the assets.
An application (MA 1111/2018) was filed to pass an order under section 33(2) of the Insolvency Code. The Resolution Professional (RP) and Learned Representative were present. The Committee of Creditors (COC) consisted of only one member, the Petitioner creditor. The RP declared that there was no Resolution Plan, and the only asset left was the factory premise and land. The COC decided to liquidate the assets. Two Valuation Reports were placed on record and considered. The basis of valuation was the comparative rate of the area and MIDC rate. The matter was adjourned to 20.12.2018.
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Order sheet of the…
The matter is a…
The case involves an application (MA 1111/2018) to pass an order under section 33(2) of the Insolvency Code. The Resolution Professional (RP) is present with the Learned Representative. The Corporate Insolvency Resolution Process (CIRP) proceeded with a Committee of Creditors (COC) consisting of only one member, the Petitioner creditor. The RP declared that there was no Resolution Plan, and the only remaining asset was the factory premise and land. The COC decided to liquidate the assets.
An application (MA 1111/2018) was filed to pass an order under section 33(2) of the Insolvency Code. The Resolution Professional (RP) and Learned Representative were present. The Committee of Creditors (COC) consisted of only one member, the Petitioner creditor. The RP declared that there was no Resolution Plan, and the only asset left was the factory premise and land. The COC decided to liquidate the assets. Two Valuation Reports were placed on record and considered. The basis of valuation was the comparative rate of the area and MIDC rate. The matter was adjourned to 20.12.2018.
Order sheet of the…
The matter is a…