The case involves an application filed by the Interim Resolution Professional (IRP) in a Corporate Insolvency Resolution Process (CIRP) initiated against Onkar Electronics Pvt. Ltd. The IRP reports that despite the publication of notice and initiation of CIRP in September 2020, no claims were received, and the Committee of Creditors (CoC) was not formed. The operational creditor did not come forward to file a claim. The Corporate Debtor did not extend any cooperation, and notices sent to the company address and Ex-Director were returned with remarks indicating the company and directors' addresses were not found.
The CIRP was initiated against Onkar Electronics Pvt. Ltd. in September 2020. The IRP published a notice, but no claims were received from creditors. A Committee of Creditors (CoC) was not formed. The operational creditor who initiated the CIRP did not file a claim. The Corporate Debtor did not cooperate with the CIRP process. Notices sent to the company address and the Ex-Director were returned undelivered. The IRP requested to be discharged and for suitable fees to be decided. An amount of Rs. 1,00,000/- was deposited by the Operational Creditor, and expenses of Rs. 40,588/- were incurred. The IRP was functioning till the date of the order.
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Corporate Insolvency Resolution Process (CIRP)…
Court order delivered,…
The case involves an application filed by the Interim Resolution Professional (IRP) in a Corporate Insolvency Resolution Process (CIRP) initiated against Onkar Electronics Pvt. Ltd. The IRP reports that despite the publication of notice and initiation of CIRP in September 2020, no claims were received, and the Committee of Creditors (CoC) was not formed. The operational creditor did not come forward to file a claim. The Corporate Debtor did not extend any cooperation, and notices sent to the company address and Ex-Director were returned with remarks indicating the company and directors' addresses were not found.
The CIRP was initiated against Onkar Electronics Pvt. Ltd. in September 2020. The IRP published a notice, but no claims were received from creditors. A Committee of Creditors (CoC) was not formed. The operational creditor who initiated the CIRP did not file a claim. The Corporate Debtor did not cooperate with the CIRP process. Notices sent to the company address and the Ex-Director were returned undelivered. The IRP requested to be discharged and for suitable fees to be decided. An amount of Rs. 1,00,000/- was deposited by the Operational Creditor, and expenses of Rs. 40,588/- were incurred. The IRP was functioning till the date of the order.
Corporate Insolvency Resolution Process (CIRP)…
Court order delivered,…