Arizona Global Services Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against New Age Satellite Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the petition on 2020-02-14 and appointed Mnish Jain as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) was formed, and Hemant Gupta was appointed as the Resolution Professional (RP), replacing the IRP. The CoC, in its meeting on 2020-10-22, resolved for liquidation of the Corporate Debtor due to the absence of business activity and the unlikelihood of revival.
Arizona Global Services Private Limited initiated CIRP against New Age Satellite Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2020-02-14. Mnish Jain was initially appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2020-02-18, setting 2020-03-02 as the last date for submitting claims. The Committee of Creditors (CoC) was duly constituted with one Financial Creditor. Hemant Gupta was appointed as the Resolution Professional (RP), replacing the IRP. The first CoC meeting was held on 2020-06-22, and the second on 2020-08-24, where the issuance of Expression of Interest (EOI) was deferred due to the lack of fixed assets. In the third CoC meeting on 2020-10-22, a
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The Adjudicating Authority admitted the petition…
A public announcement was made in Business…
Arizona Global Services Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against New Age Satellite Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the petition on 2020-02-14 and appointed Mnish Jain as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) was formed, and Hemant Gupta was appointed as the Resolution Professional (RP), replacing the IRP. The CoC, in its meeting on 2020-10-22, resolved for liquidation of the Corporate Debtor due to the absence of business activity and the unlikelihood of revival.
Arizona Global Services Private Limited initiated CIRP against New Age Satellite Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2020-02-14. Mnish Jain was initially appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2020-02-18, setting 2020-03-02 as the last date for submitting claims. The Committee of Creditors (CoC) was duly constituted with one Financial Creditor. Hemant Gupta was appointed as the Resolution Professional (RP), replacing the IRP. The first CoC meeting was held on 2020-06-22, and the second on 2020-08-24, where the issuance of Expression of Interest (EOI) was deferred due to the lack of fixed assets. In the third CoC meeting on 2020-10-22, a
…The Adjudicating Authority admitted the petition…
A public announcement was made in Business…