The Resolution Professional (RP) filed an application under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Matrix Bizcom Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was conducted, but no Resolution Applicant showed interest in filing a Resolution Plan. The Committee of Creditors (CoC), with 100% voting share, decided on 2020-12-15 to liquidate the Corporate Debtor and appoint the present RP as the Liquidator with a fee of Rs. 40,000 per month for 6 months. The CoC also approved the total cost of Liquidation, stated as Rs. 7,71,000.
Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Matrix Bizcom Pvt. Ltd. The Resolution Professional (RP) was appointed. Despite conducting the CIRP, no Resolution Applicant showed interest in submitting a resolution plan. The Committee of Creditors (CoC), holding 100% voting share, convened on December 15, 2020, and resolved to liquidate the Corporate Debtor. The CoC also decided to appoint the existing RP as the Liquidator, with a monthly fee of Rs. 40,000 for a period of 6 months. The total cost of liquidation was approved by the CoC, amounting to Rs. 7,71,000. The RP then filed an application under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking the liquidation of the Corporate Debtor. The relevance of these
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The Committee of Creditors (CoC) decided to…
The NCLT approved the…
The Resolution Professional (RP) filed an application under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Matrix Bizcom Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was conducted, but no Resolution Applicant showed interest in filing a Resolution Plan. The Committee of Creditors (CoC), with 100% voting share, decided on 2020-12-15 to liquidate the Corporate Debtor and appoint the present RP as the Liquidator with a fee of Rs. 40,000 per month for 6 months. The CoC also approved the total cost of Liquidation, stated as Rs. 7,71,000.
Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Matrix Bizcom Pvt. Ltd. The Resolution Professional (RP) was appointed. Despite conducting the CIRP, no Resolution Applicant showed interest in submitting a resolution plan. The Committee of Creditors (CoC), holding 100% voting share, convened on December 15, 2020, and resolved to liquidate the Corporate Debtor. The CoC also decided to appoint the existing RP as the Liquidator, with a monthly fee of Rs. 40,000 for a period of 6 months. The total cost of liquidation was approved by the CoC, amounting to Rs. 7,71,000. The RP then filed an application under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking the liquidation of the Corporate Debtor. The relevance of these
…The Committee of Creditors (CoC) decided to…
The NCLT approved the…