The case involves an application filed under Section 33(2) and 60 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of Perfect International Private Limited. The Committee of Creditors (CoC) unanimously passed a resolution for liquidation on 21.10.2019, with 100% voting share, as no prospective resolution plan was presented. The Corporate Debtor's business had been shut down since 2018.
Perfect International Private Limited faced insolvency proceedings under the IBC, 2016. An application was filed under Section 33(2) and 60 seeking liquidation. The company's business had been shut down since 2018, and no resolution plan was presented despite invitations for expression of interest. The Resolution Professional (RP) collated claims amounting to ₹15,51,93,681. The CoC unanimously passed a resolution for liquidation on 21.10.2019, with 100% voting share. The RP appointed valuers to assess the liquidation estate, determining the average fair value and average liquidation value of the company's assets. The average fair value of Land & Building was ₹6,76,74,000, and the average liquidation value was ₹4,85,23,000. The average fair value of Plant &
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The Corporate Debtor's…
The Committee of Creditors (CoC) unanimously…
The case involves an application filed under Section 33(2) and 60 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of Perfect International Private Limited. The Committee of Creditors (CoC) unanimously passed a resolution for liquidation on 21.10.2019, with 100% voting share, as no prospective resolution plan was presented. The Corporate Debtor's business had been shut down since 2018.
Perfect International Private Limited faced insolvency proceedings under the IBC, 2016. An application was filed under Section 33(2) and 60 seeking liquidation. The company's business had been shut down since 2018, and no resolution plan was presented despite invitations for expression of interest. The Resolution Professional (RP) collated claims amounting to ₹15,51,93,681. The CoC unanimously passed a resolution for liquidation on 21.10.2019, with 100% voting share. The RP appointed valuers to assess the liquidation estate, determining the average fair value and average liquidation value of the company's assets. The average fair value of Land & Building was ₹6,76,74,000, and the average liquidation value was ₹4,85,23,000. The average fair value of Plant &
…The Corporate Debtor's…
The Committee of Creditors (CoC) unanimously…