The case originated from a petition filed by Paragon Finance Limited, a financial creditor, under section 7 of the Insolvency and Bankruptcy Code, 2016, against Mohan Motor Dealers Private Limited, the corporate debtor. This led to the initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor on August 3, 2021. Mr. Arun Kumar Khandelia was initially appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) on September 15, 2021. The present application was filed by the Resolution Professional, with the approval of the Committee of Creditors (CoC), seeking the liquidation of the corporate debtor due to various challenges encountered during the CIRP.
The Resolution Professional (RP) filed an application seeking the liquidation of Mohan Motor Dealers Private Limited, the corporate debtor. This application was approved by the Committee of Creditors (CoC) with 100% votes, indicating a unanimous decision to proceed with liquidation. The Adjudicating Authority had initiated the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor on August 3, 2021, following a petition by Paragon Finance Limited, a financial creditor, under section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Arun Kumar Khandelia was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP) on September 15, 2021.
Adjudicating Authority directed initiation of…
Applicant filed an application under Section…
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The case originated from a petition filed by Paragon Finance Limited, a financial creditor, under section 7 of the Insolvency and Bankruptcy Code, 2016, against Mohan Motor Dealers Private Limited, the corporate debtor. This led to the initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor on August 3, 2021. Mr. Arun Kumar Khandelia was initially appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) on September 15, 2021. The present application was filed by the Resolution Professional, with the approval of the Committee of Creditors (CoC), seeking the liquidation of the corporate debtor due to various challenges encountered during the CIRP.
The Resolution Professional (RP) filed an application seeking the liquidation of Mohan Motor Dealers Private Limited, the corporate debtor. This application was approved by the Committee of Creditors (CoC) with 100% votes, indicating a unanimous decision to proceed with liquidation. The Adjudicating Authority had initiated the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor on August 3, 2021, following a petition by Paragon Finance Limited, a financial creditor, under section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Arun Kumar Khandelia was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP) on September 15, 2021.
Adjudicating Authority directed initiation of…
Applicant filed an application under Section…
Sign in to view related legal provisions.