The case pertains to the insolvency resolution process of Liquid Space Entertainment Private Limited. The corporate insolvency resolution process (CIRP) was initiated, and Shri Thirupal Gorige was appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) decided to liquidate the Corporate Debtor due to the absence of a viable resolution plan. The Resolution Professional then filed an application before the National Company Law Tribunal (NCLT), Bengaluru Bench, seeking an order for liquidation.
The Corporate Debtor, Liquid Space Entertainment Private Limited, underwent Corporate Insolvency Resolution Process (CIRP). Shri Thirupal Gorige was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) in its meeting held on 2019-04-03, decided to liquidate the Corporate Debtor due to the absence of a resolution plan. The CoC noted the total liabilities of the Corporate Debtor to be around Rs.7,96,48,501 and realisable assets of Rs.451,128. The RP filed an application before the NCLT, Bengaluru Bench, seeking an order for liquidation. The NCLT admitted the petition on 2018-11-29. The time limit for completion of insolvency and resolution process was expiring on 2019-06-01. The CoC
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The bench admitted the…
The IRP was appointed…
The case pertains to the insolvency resolution process of Liquid Space Entertainment Private Limited. The corporate insolvency resolution process (CIRP) was initiated, and Shri Thirupal Gorige was appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) decided to liquidate the Corporate Debtor due to the absence of a viable resolution plan. The Resolution Professional then filed an application before the National Company Law Tribunal (NCLT), Bengaluru Bench, seeking an order for liquidation.
The Corporate Debtor, Liquid Space Entertainment Private Limited, underwent Corporate Insolvency Resolution Process (CIRP). Shri Thirupal Gorige was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) in its meeting held on 2019-04-03, decided to liquidate the Corporate Debtor due to the absence of a resolution plan. The CoC noted the total liabilities of the Corporate Debtor to be around Rs.7,96,48,501 and realisable assets of Rs.451,128. The RP filed an application before the NCLT, Bengaluru Bench, seeking an order for liquidation. The NCLT admitted the petition on 2018-11-29. The time limit for completion of insolvency and resolution process was expiring on 2019-06-01. The CoC
…The bench admitted the…
The IRP was appointed…