This case involves an application filed under section 54(2) of the Insolvency and Bankruptcy Code, 2016, read with regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, by the Liquidator of Ramsarup Vyapaar Limited, seeking dissolution of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 17.05.2018, and Mr. Jitendra Lohia was appointed as the Interim Resolution Professional, later confirmed as Resolution Professional. A resolution for liquidation was passed on 05.10.2018, and a liquidation order was passed on 16.11.2018, appointing Mr. Jitendra Lohia as the Liquidator. Public announcement of the liquidation was made on 18.11.2018. The applicant appointed two
…Ramsarup Vyapaar Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated on 17.05.2018. Jitendra Lohia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Due to the absence of a resolution plan, the Committee of Creditors (CoC) resolved for liquidation on 05.10.2018, leading to a liquidation order on 16.11.2018, with Jitendra Lohia appointed as the Liquidator. Public announcement of liquidation was made on 18.11.2018. Two valuers, Adroit Technical Services Pvt. Ltd. and Dutta Sarkar & Company, were appointed on 21.06.2018 and 22.06.2018, respectively, to value the assets. Four e-auctions were conducted, with the first announced on 07.02.2019. Prompt Sales Private Limited emerged as the highest
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This case involves an application filed under section 54(2) of the Insolvency and Bankruptcy Code, 2016, read with regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, by the Liquidator of Ramsarup Vyapaar Limited, seeking dissolution of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 17.05.2018, and Mr. Jitendra Lohia was appointed as the Interim Resolution Professional, later confirmed as Resolution Professional. A resolution for liquidation was passed on 05.10.2018, and a liquidation order was passed on 16.11.2018, appointing Mr. Jitendra Lohia as the Liquidator. Public announcement of the liquidation was made on 18.11.2018. The applicant appointed two
…Ramsarup Vyapaar Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated on 17.05.2018. Jitendra Lohia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Due to the absence of a resolution plan, the Committee of Creditors (CoC) resolved for liquidation on 05.10.2018, leading to a liquidation order on 16.11.2018, with Jitendra Lohia appointed as the Liquidator. Public announcement of liquidation was made on 18.11.2018. Two valuers, Adroit Technical Services Pvt. Ltd. and Dutta Sarkar & Company, were appointed on 21.06.2018 and 22.06.2018, respectively, to value the assets. Four e-auctions were conducted, with the first announced on 07.02.2019. Prompt Sales Private Limited emerged as the highest
…The case was registered…
The Adjudicating Authority admitted the…