The case involves an application filed by the Resolution Professional, Shri Thirupal Gorige, seeking an order to liquidate the Corporate Debtor, M/s. Liquid Space Entertainment Private Limited, as per Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (CoC) decided to liquidate the Corporate Debtor after determining that no resolution plan was feasible. The petition was initially admitted on 2018-11-29, and Shri Thirupal Gorige was appointed as the Interim Resolution Professional (IRP).
The Corporate Debtor, M/s. Liquid Space Entertainment Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) after a petition was admitted on 2018-11-29. Shri Thirupal Gorige was appointed as the IRP. During the CIRP, no resolution plan was received. The Committee of Creditors (CoC) held a meeting on 2019-04-03 and decided to liquidate the Corporate Debtor, as they believed no revival was possible. The CoC reviewed the liabilities and assets of the Corporate Debtor, noting total liabilities of approximately Rs. 7,96,48,501 and realizable assets of Rs. 451,128, including a car hypothecated with HDFC Bank and a bank balance. The Resolution Professional, Shri Thirupal Gorige, then filed an application (I.A No. 189 of 2019) to intimate the CoC's decision
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The petition against the Corporate Debtor was…
The IRP was appointed…
The case involves an application filed by the Resolution Professional, Shri Thirupal Gorige, seeking an order to liquidate the Corporate Debtor, M/s. Liquid Space Entertainment Private Limited, as per Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (CoC) decided to liquidate the Corporate Debtor after determining that no resolution plan was feasible. The petition was initially admitted on 2018-11-29, and Shri Thirupal Gorige was appointed as the Interim Resolution Professional (IRP).
The Corporate Debtor, M/s. Liquid Space Entertainment Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) after a petition was admitted on 2018-11-29. Shri Thirupal Gorige was appointed as the IRP. During the CIRP, no resolution plan was received. The Committee of Creditors (CoC) held a meeting on 2019-04-03 and decided to liquidate the Corporate Debtor, as they believed no revival was possible. The CoC reviewed the liabilities and assets of the Corporate Debtor, noting total liabilities of approximately Rs. 7,96,48,501 and realizable assets of Rs. 451,128, including a car hypothecated with HDFC Bank and a bank balance. The Resolution Professional, Shri Thirupal Gorige, then filed an application (I.A No. 189 of 2019) to intimate the CoC's decision
…The petition against the Corporate Debtor was…
The IRP was appointed…