The case involves an application for liquidation of the Corporate Debtor, M/s. Lakshmi Apparels and Wovens Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by operational creditors, M/s. Saravana Distributors and M/s. Sri Devi Chemicals. The initial Interim Resolution Professional (IRP) could not continue due to ill-health, leading to the appointment of a new IRP, who was later appointed as the Resolution Professional (RP).
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Lakshmi Apparels and Wovens Limited, the Corporate Debtor (CD), based on a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by operational creditors, M/s. Saravana Distributors and M/s. Sri Devi Chemicals. The petition was admitted, and Mr. R. Rajasekaran was appointed as the Interim Resolution Professional (IRP). However, due to the IRP's ill-health, he could not initiate the CIRP. The Financial Creditor requested a change of IRP, and the present applicant, Mr. M. Suresh Kumar, was appointed as IRP. Subsequently, he was appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The CoC determined that there was no scope for revival of
…Sign in to view the parties.
Order issued for CIRP…
Present applicant…
The case involves an application for liquidation of the Corporate Debtor, M/s. Lakshmi Apparels and Wovens Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by operational creditors, M/s. Saravana Distributors and M/s. Sri Devi Chemicals. The initial Interim Resolution Professional (IRP) could not continue due to ill-health, leading to the appointment of a new IRP, who was later appointed as the Resolution Professional (RP).
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Lakshmi Apparels and Wovens Limited, the Corporate Debtor (CD), based on a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by operational creditors, M/s. Saravana Distributors and M/s. Sri Devi Chemicals. The petition was admitted, and Mr. R. Rajasekaran was appointed as the Interim Resolution Professional (IRP). However, due to the IRP's ill-health, he could not initiate the CIRP. The Financial Creditor requested a change of IRP, and the present applicant, Mr. M. Suresh Kumar, was appointed as IRP. Subsequently, he was appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The CoC determined that there was no scope for revival of
…Order issued for CIRP…
Present applicant…