The case involves an application filed by the Resolution Professional (RP) under Section 33(1), 33(2), and 34(1) of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking an order for the liquidation of the Corporate Debtor, M/s. Power Televentures Private Limited. The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) on 17.09.2020, following an application filed by the Financial Creditor, M/s. Touchstone Services Private Limited, under Section 7 of the IBC. The Interim Resolution Professional (IRP) was appointed and made a public announcement for submission of claims by creditors, subsequently formulating the Committee of Creditors (COC).
The Resolution Professional, Mr. Shikhar Chand Jain, filed an application under Section 33 of the IBC seeking liquidation of M/s. Power Televentures Private Limited. The Corporate Debtor was admitted into CIRP on 17.09.2020 based on an application by the Financial Creditor, M/s. Touchstone Services Private Limited. An IRP was appointed, and a COC was formed. The COC decided to replace the IRP and appointed Mr. Shikhar Chand Jain as the Resolution Professional. The COC, in its 6th meeting held on 22.07.2021, decided to liquidate the Corporate Debtor as it was not a going concern. The COC also decided to appoint the Resolution Professional as the Liquidator. The COC had already resolved not to publish EOI for submission of a Resolution Plan due to limited assets and the
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Corporate Debtor admitted into Corporate…
IRP made public announcement in “Times of…
The case involves an application filed by the Resolution Professional (RP) under Section 33(1), 33(2), and 34(1) of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking an order for the liquidation of the Corporate Debtor, M/s. Power Televentures Private Limited. The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) on 17.09.2020, following an application filed by the Financial Creditor, M/s. Touchstone Services Private Limited, under Section 7 of the IBC. The Interim Resolution Professional (IRP) was appointed and made a public announcement for submission of claims by creditors, subsequently formulating the Committee of Creditors (COC).
The Resolution Professional, Mr. Shikhar Chand Jain, filed an application under Section 33 of the IBC seeking liquidation of M/s. Power Televentures Private Limited. The Corporate Debtor was admitted into CIRP on 17.09.2020 based on an application by the Financial Creditor, M/s. Touchstone Services Private Limited. An IRP was appointed, and a COC was formed. The COC decided to replace the IRP and appointed Mr. Shikhar Chand Jain as the Resolution Professional. The COC, in its 6th meeting held on 22.07.2021, decided to liquidate the Corporate Debtor as it was not a going concern. The COC also decided to appoint the Resolution Professional as the Liquidator. The COC had already resolved not to publish EOI for submission of a Resolution Plan due to limited assets and the
…Corporate Debtor admitted into Corporate…
IRP made public announcement in “Times of…