The case pertains to the insolvency resolution of Parikh Fabrics Private Limited. An application was filed under Section 33 of the IB Code, 2016, seeking an order for liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP). Thirteen meetings of the Committee of Creditors (CoC) were held. An expression of interest was invited, and a resolution plan was submitted by Mr. Rajesh Laddha, which was subsequently rejected by the CoC with 100% voting against its approval.
Parikh Fabrics Private Limited faced insolvency proceedings. The CIRP was initiated following an application under the IB Code. Mr. J. Manivannan was initially 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) convened thirteen times to deliberate on the resolution of the Corporate Debtor. An expression of interest was sought, leading to the submission of a resolution plan by Mr. Rajesh Laddha. However, the CoC rejected this plan with a unanimous vote against its approval. Consequently, the CoC resolved to recommend the liquidation of Parikh Fabrics Private Limited. The RP then filed an application under Section 33(2) of the IB Code, seeking
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Mr. J. Manivannan of…
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The case pertains to the insolvency resolution of Parikh Fabrics Private Limited. An application was filed under Section 33 of the IB Code, 2016, seeking an order for liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP). Thirteen meetings of the Committee of Creditors (CoC) were held. An expression of interest was invited, and a resolution plan was submitted by Mr. Rajesh Laddha, which was subsequently rejected by the CoC with 100% voting against its approval.
Parikh Fabrics Private Limited faced insolvency proceedings. The CIRP was initiated following an application under the IB Code. Mr. J. Manivannan was initially 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) convened thirteen times to deliberate on the resolution of the Corporate Debtor. An expression of interest was sought, leading to the submission of a resolution plan by Mr. Rajesh Laddha. However, the CoC rejected this plan with a unanimous vote against its approval. Consequently, the CoC resolved to recommend the liquidation of Parikh Fabrics Private Limited. The RP then filed an application under Section 33(2) of the IB Code, seeking
…Mr. J. Manivannan of…
The first meeting of the Committee of…