The case involves M/s. Adonis Electronics Pvt. Ltd. as the petitioner and M/s. Saka Ltd. as the respondent under Section 9 of the IBC. The Resolution Professional (RP) moved an application under Section 33(2) of the IBC, 2016 seeking the liquidation of the Corporate-debtor Saka Limited. The Corporate-debtor was originally engaged in manufacturing black and white Television Sets but has had no operations for the last seven years. Despite efforts by the RP, no resolution proposal materialized after detailed deliberations at the Committee of Creditors (CoC).
M/s. Adonis Electronics Pvt. Ltd. filed a case against M/s. Saka Ltd. under Section 9 of the IBC. The Resolution Professional (RP) applied for the liquidation of M/s. Saka Ltd., the Corporate-debtor, under Section 33(2) of the IBC, 2016. M/s. Saka Ltd. was previously involved in manufacturing black and white television sets but has been inactive for seven years. The Resolution Professional attempted to find a resolution applicant, but no proposals materialized despite discussions with the Committee of Creditors (CoC). The CoC, in its agenda item No. 7 at page No. 21 of the application, resolved with 100% majority to propose liquidation. The BSE issued an intimation to all companies as part of an exchange platform exercise, which was clarified as neither a notice nor a
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The case involves M/s. Adonis Electronics Pvt. Ltd. as the petitioner and M/s. Saka Ltd. as the respondent under Section 9 of the IBC. The Resolution Professional (RP) moved an application under Section 33(2) of the IBC, 2016 seeking the liquidation of the Corporate-debtor Saka Limited. The Corporate-debtor was originally engaged in manufacturing black and white Television Sets but has had no operations for the last seven years. Despite efforts by the RP, no resolution proposal materialized after detailed deliberations at the Committee of Creditors (CoC).
M/s. Adonis Electronics Pvt. Ltd. filed a case against M/s. Saka Ltd. under Section 9 of the IBC. The Resolution Professional (RP) applied for the liquidation of M/s. Saka Ltd., the Corporate-debtor, under Section 33(2) of the IBC, 2016. M/s. Saka Ltd. was previously involved in manufacturing black and white television sets but has been inactive for seven years. The Resolution Professional attempted to find a resolution applicant, but no proposals materialized despite discussions with the Committee of Creditors (CoC). The CoC, in its agenda item No. 7 at page No. 21 of the application, resolved with 100% majority to propose liquidation. The BSE issued an intimation to all companies as part of an exchange platform exercise, which was clarified as neither a notice nor a
…Order delive…
BSE issued an intimation…
Sign in to view related legal provisions.