The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, Pixion Media Private Limited. The financial creditor, Indian Overseas Bank, had previously filed an application under Section 7 of the Code for initiating Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, which was admitted on 09.10.2018. Mr. Anil Kumar was appointed as the Interim Resolution Professional (IRP).
Indian Overseas Bank initiated Corporate Insolvency Resolution Process (CIRP) against Pixion Media Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 09.10.2018. Anil Kumar was appointed as the Interim Resolution Professional (IRP). The IRP invited claims from creditors and constituted a Committee of Creditors (CoC). In the first CoC meeting on 05.11.2018, the IRP was appointed as the Resolution Professional (RP). No business operation of the corporate debtor had taken place since the financial year 2011-12, and there was no trace of plant and machinery. The RP invited Expression of Interest (EOI), but no EOI was received. The CoC decided not to extend the time for submission of EOI due to non-cooperation
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The application filed by Indian Overseas Bank…
In the first meeting of the Committee of…
The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, Pixion Media Private Limited. The financial creditor, Indian Overseas Bank, had previously filed an application under Section 7 of the Code for initiating Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, which was admitted on 09.10.2018. Mr. Anil Kumar was appointed as the Interim Resolution Professional (IRP).
Indian Overseas Bank initiated Corporate Insolvency Resolution Process (CIRP) against Pixion Media Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 09.10.2018. Anil Kumar was appointed as the Interim Resolution Professional (IRP). The IRP invited claims from creditors and constituted a Committee of Creditors (CoC). In the first CoC meeting on 05.11.2018, the IRP was appointed as the Resolution Professional (RP). No business operation of the corporate debtor had taken place since the financial year 2011-12, and there was no trace of plant and machinery. The RP invited Expression of Interest (EOI), but no EOI was received. The CoC decided not to extend the time for submission of EOI due to non-cooperation
…The application filed by Indian Overseas Bank…
In the first meeting of the Committee of…