The case involves Padia Timber Co. Pvt. Ltd. and pertains to an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (COC), with Bank of Baroda as the sole financial creditor, decided to proceed with liquidation as the resolution plan was rejected after negotiations. The application is regarding the appointment of a liquidator.
Padia Timber Co. Pvt. Ltd. is the corporate debtor in this case. The application is filed under Section 10 of the IBC, 2016. The Committee of Creditors (COC), consisting solely of Bank of Baroda, decided to proceed with liquidation because the only resolution plan received was rejected after negotiations. The COC resolved to appoint the Resolution Professional (RP) as the liquidator. The court is considering the application for liquidation and the appointment of the liquidator. The consent of the designated liquidator is pending.
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The Committee of Creditors (COC) held a final…
The order was delivered allowing the…
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The case involves Padia Timber Co. Pvt. Ltd. and pertains to an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (COC), with Bank of Baroda as the sole financial creditor, decided to proceed with liquidation as the resolution plan was rejected after negotiations. The application is regarding the appointment of a liquidator.
Padia Timber Co. Pvt. Ltd. is the corporate debtor in this case. The application is filed under Section 10 of the IBC, 2016. The Committee of Creditors (COC), consisting solely of Bank of Baroda, decided to proceed with liquidation because the only resolution plan received was rejected after negotiations. The COC resolved to appoint the Resolution Professional (RP) as the liquidator. The court is considering the application for liquidation and the appointment of the liquidator. The consent of the designated liquidator is pending.
The Committee of Creditors (COC) held a final…
The order was delivered allowing the…
Sign in to view related legal provisions.