The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking an order for the liquidation of the Corporate Debtor, Parikh Fabrics Private Limited, and the appointment of a liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated, and Mr. J. Manivannan was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. G. Satyanarayana Murty. The Committee of Creditors (CoC) convened 13 times. An expression of interest was invited, and one Mr. Rajesh Laddha submitted a resolution plan, which was subsequently rejected by the CoC with 100% voting against its approval.
Parikh Fabrics Private Limited underwent Corporate Insolvency Resolution Process (CIRP) after the admission of a company petition. Initially, Mr. J. Manivannan was appointed as the Interim Resolution Professional (IRP) but was later replaced by Mr. G. Satyanarayana Murty as the Resolution Professional (RP). The Committee of Creditors (CoC) held 13 meetings to explore resolution options. An expression of interest was invited, and Mr. Rajesh Laddha submitted a resolution plan. However, the CoC rejected the resolution plan with 100% voting against its approval. Consequently, the RP filed an application under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of Parikh Fabrics Private Limited. The CoC also unanimously resolved to liquidate
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Mr. J. Manivannan of…
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The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking an order for the liquidation of the Corporate Debtor, Parikh Fabrics Private Limited, and the appointment of a liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated, and Mr. J. Manivannan was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. G. Satyanarayana Murty. The Committee of Creditors (CoC) convened 13 times. An expression of interest was invited, and one Mr. Rajesh Laddha submitted a resolution plan, which was subsequently rejected by the CoC with 100% voting against its approval.
Parikh Fabrics Private Limited underwent Corporate Insolvency Resolution Process (CIRP) after the admission of a company petition. Initially, Mr. J. Manivannan was appointed as the Interim Resolution Professional (IRP) but was later replaced by Mr. G. Satyanarayana Murty as the Resolution Professional (RP). The Committee of Creditors (CoC) held 13 meetings to explore resolution options. An expression of interest was invited, and Mr. Rajesh Laddha submitted a resolution plan. However, the CoC rejected the resolution plan with 100% voting against its approval. Consequently, the RP filed an application under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of Parikh Fabrics Private Limited. The CoC also unanimously resolved to liquidate
…Mr. J. Manivannan of…
First meeting of the…