The case involves an application (IA/07/IB/2021) filed by the Liquidator of M/s. Perfect International Fabricators Private Limited seeking an extension of the liquidation period. The liquidation process commenced following a CIRP initiated by an operational creditor, M/s. Jotun India Private Limited. Despite efforts to find resolution applicants, no interest was received, leading to the decision to liquidate the Corporate Debtor. The applicant sought an extension of 8 months, effective from 13.12.2020, to complete the liquidation process.
The Corporate Debtor, M/s. Perfect International Fabricators Private Limited, underwent CIRP initiated by an operational creditor, M/s. Jotun India Private Limited. Due to the lack of resolution applicants, liquidation was initiated on 13.12.2019. Ms. Sripriya Kumar was appointed as the Liquidator. The Liquidator received claims from financial creditors amounting to Rs. 14.20 crore, with M/s. State Bank of India and M/s. SREI Equipment Finance Limited being the major claimants. The Liquidator filed avoidance applications to recover assets from related parties. The liquidation process was delayed due to the COVID-19 lockdown. The Liquidator sought an extension of the liquidation period by 263 days, from 24.03.2020 to 12.12.2020. The 3rd CoC meeting was held on
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The case involves an application (IA/07/IB/2021) filed by the Liquidator of M/s. Perfect International Fabricators Private Limited seeking an extension of the liquidation period. The liquidation process commenced following a CIRP initiated by an operational creditor, M/s. Jotun India Private Limited. Despite efforts to find resolution applicants, no interest was received, leading to the decision to liquidate the Corporate Debtor. The applicant sought an extension of 8 months, effective from 13.12.2020, to complete the liquidation process.
The Corporate Debtor, M/s. Perfect International Fabricators Private Limited, underwent CIRP initiated by an operational creditor, M/s. Jotun India Private Limited. Due to the lack of resolution applicants, liquidation was initiated on 13.12.2019. Ms. Sripriya Kumar was appointed as the Liquidator. The Liquidator received claims from financial creditors amounting to Rs. 14.20 crore, with M/s. State Bank of India and M/s. SREI Equipment Finance Limited being the major claimants. The Liquidator filed avoidance applications to recover assets from related parties. The liquidation process was delayed due to the COVID-19 lockdown. The Liquidator sought an extension of the liquidation period by 263 days, from 24.03.2020 to 12.12.2020. The 3rd CoC meeting was held on
…Liquidation process…
The 3rd CoC mee…
Sign in to view related legal provisions.