Aircom Travels Private Limited, the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Mohan Motor Distributors Pvt. Ltd., the Corporate Debtor. The petition was admitted by the Adjudicating Authority on February 24, 2020. Mr. Sandip Kumar Kejriwal was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Kamal Agarwal as the Resolution Professional (RP) on February 23, 2021, following a resolution by the Committee of Creditors (CoC).
Aircom Travels Private Limited, as the Operational Creditor, initiated CIRP against Mohan Motor Distributors Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC, 2016. The petition was admitted on February 24, 2020. Sandip Kumar Kejriwal was initially appointed as the IRP, later replaced by Kamal Agarwal. Despite efforts, no resolution plan was submitted, and the extended CIRP period expired on April 12, 2021. The CoC, holding 88.35% voting rights, resolved to liquidate the Corporate Debtor. The Corporate Debtor was not a going concern, with no employees and significant accumulated losses. The RP consented to act as the Liquidator. The Adjudicating Authority found no alternative but to order liquidation under Section 33 of the IBC, 2016.
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The Adjudicating…
Mr. Sandip Kumar…
Aircom Travels Private Limited, the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Mohan Motor Distributors Pvt. Ltd., the Corporate Debtor. The petition was admitted by the Adjudicating Authority on February 24, 2020. Mr. Sandip Kumar Kejriwal was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Kamal Agarwal as the Resolution Professional (RP) on February 23, 2021, following a resolution by the Committee of Creditors (CoC).
Aircom Travels Private Limited, as the Operational Creditor, initiated CIRP against Mohan Motor Distributors Pvt. Ltd., the Corporate Debtor, under Section 9 of the IBC, 2016. The petition was admitted on February 24, 2020. Sandip Kumar Kejriwal was initially appointed as the IRP, later replaced by Kamal Agarwal. Despite efforts, no resolution plan was submitted, and the extended CIRP period expired on April 12, 2021. The CoC, holding 88.35% voting rights, resolved to liquidate the Corporate Debtor. The Corporate Debtor was not a going concern, with no employees and significant accumulated losses. The RP consented to act as the Liquidator. The Adjudicating Authority found no alternative but to order liquidation under Section 33 of the IBC, 2016.
The Adjudicating…
Mr. Sandip Kumar…