The case pertains to an application filed under Section 33(2) and 60 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor, M/s. Perfect International Private Limited. The Resolution Professional (RP) filed the application based on a resolution passed by the Committee of Creditors (CoC) on 21.10.2019 with 100% voting share, recommending liquidation. The Corporate Debtor's business had been shut down since 2018, and no prospective resolution plan was received despite invitations for expression of interest.
M/s. Perfect International Private Limited faced insolvency proceedings under the IBC, 2016. The company's operations had been shut down since 2018, indicating a lack of prospective business. An invitation for expression of interest yielded no resolution plan. The Resolution Professional (RP), Ms. Sripriya Kumar, collated claims amounting to ₹15,51,93,681. Two valuers assessed the liquidation estate, determining the average fair value to be ₹13,04,88,666 and the average liquidation value to be ₹10,56,28,166. The Committee of Creditors (CoC) unanimously passed a resolution on 21.10.2019, with 100% voting share, recommending liquidation. The RP then filed an application under Section 33(2) and 60 of the IBC, 2016, for liquidation. The CoC's decision was influenced by the
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The Corporate…
The Committee of Creditors (CoC) passed a…
The case pertains to an application filed under Section 33(2) and 60 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor, M/s. Perfect International Private Limited. The Resolution Professional (RP) filed the application based on a resolution passed by the Committee of Creditors (CoC) on 21.10.2019 with 100% voting share, recommending liquidation. The Corporate Debtor's business had been shut down since 2018, and no prospective resolution plan was received despite invitations for expression of interest.
M/s. Perfect International Private Limited faced insolvency proceedings under the IBC, 2016. The company's operations had been shut down since 2018, indicating a lack of prospective business. An invitation for expression of interest yielded no resolution plan. The Resolution Professional (RP), Ms. Sripriya Kumar, collated claims amounting to ₹15,51,93,681. Two valuers assessed the liquidation estate, determining the average fair value to be ₹13,04,88,666 and the average liquidation value to be ₹10,56,28,166. The Committee of Creditors (CoC) unanimously passed a resolution on 21.10.2019, with 100% voting share, recommending liquidation. The RP then filed an application under Section 33(2) and 60 of the IBC, 2016, for liquidation. The CoC's decision was influenced by the
…The Corporate…
The Committee of Creditors (CoC) passed a…