The case involves an application (IA No.746/2020) filed in CP(IB)No.356/7/HDB/2019 by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of liquidation proceedings for RCI Cash Management Services Private Limited (Corporate Debtor). The Corporate Debtor was initially admitted into the Corporate Insolvency Resolution Process (CIRP) following an application under Section 7 of the IBC by Pashupati Merchandise Private Limited (Financial Creditor). The Committee of Creditors (CoC) subsequently resolved to liquidate the Corporate Debtor with 100% votes, as no resolution plan was received.
Pashupati Merchandise Private Limited (Financial Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against RCI Cash Management Services Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 2019-09-27, and Dr. K. Lakshmi Narasimha was appointed as the Interim Resolution Professional (IRP). In the first meeting of the Committee of Creditors (CoC) on 2019-11-23, Mr. Pradeep Kumar Sravanam was appointed as the Resolution Professional (RP). The Adjudicating Authority confirmed this appointment through orders dated 2019-12-02 and 2019-12-06. A Chartered Accountant, Mr. Vinay Kumar Mahipal, was appointed to compile the Corporate Debtor's accounts from 2015-16 up to 2019-11-30 and
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The Adjudicating Authority admitted the…
The Committee of Creditors (CoC) appointed Mr.…
The case involves an application (IA No.746/2020) filed in CP(IB)No.356/7/HDB/2019 by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of liquidation proceedings for RCI Cash Management Services Private Limited (Corporate Debtor). The Corporate Debtor was initially admitted into the Corporate Insolvency Resolution Process (CIRP) following an application under Section 7 of the IBC by Pashupati Merchandise Private Limited (Financial Creditor). The Committee of Creditors (CoC) subsequently resolved to liquidate the Corporate Debtor with 100% votes, as no resolution plan was received.
Pashupati Merchandise Private Limited (Financial Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against RCI Cash Management Services Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 2019-09-27, and Dr. K. Lakshmi Narasimha was appointed as the Interim Resolution Professional (IRP). In the first meeting of the Committee of Creditors (CoC) on 2019-11-23, Mr. Pradeep Kumar Sravanam was appointed as the Resolution Professional (RP). The Adjudicating Authority confirmed this appointment through orders dated 2019-12-02 and 2019-12-06. A Chartered Accountant, Mr. Vinay Kumar Mahipal, was appointed to compile the Corporate Debtor's accounts from 2015-16 up to 2019-11-30 and
…The Adjudicating Authority admitted the…
The Committee of Creditors (CoC) appointed Mr.…