The case involves a Miscellaneous Application (MA/424/2018) filed in CP/359/IB/2018 by the Resolution Professional, Mr. Mudappallur Varieth Gangadharan, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, M/s. Samudhra Bio Pharma Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.06.2018. The CIRP was initiated by the Financial Creditor, International Asset Reconstruction Company Private Limited (IARCL), under Section 7 of the I&B Code 2016. CP/359/(IB)/2017 was admitted, and a moratorium was declared on 04.06.2018. Mr. Mudappallur Varieth Gangadharan was appointed as the Interim Resolution Professional (IRP).
The International Asset Reconstruction Company Private Limited (IARCL) initiated the Corporate Insolvency Resolution Process (CIRP) against M/s. Samudhra Bio Pharma Private Limited under Section 7 of the Insolvency and Bankruptcy Code (I&B Code), 2016. The CIRP commenced on 04.06.2018. Mr. Mudappallur Varieth Gangadharan was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. The Committee of Creditors (CoCs) decided in its meeting held on 31.08.2018 to liquidate the Corporate Debtor. Consequently, the Resolution Professional filed MA/424/2018 seeking an order for liquidation. The key fact is the CoCs' decision to liquidate the Corporate Debtor after exploring other options, leading to the court's order for liquidation.
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Corporate Insolvency…
Mr. Mudappallur Varieth Gangadharan was…
The case involves a Miscellaneous Application (MA/424/2018) filed in CP/359/IB/2018 by the Resolution Professional, Mr. Mudappallur Varieth Gangadharan, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, M/s. Samudhra Bio Pharma Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.06.2018. The CIRP was initiated by the Financial Creditor, International Asset Reconstruction Company Private Limited (IARCL), under Section 7 of the I&B Code 2016. CP/359/(IB)/2017 was admitted, and a moratorium was declared on 04.06.2018. Mr. Mudappallur Varieth Gangadharan was appointed as the Interim Resolution Professional (IRP).
The International Asset Reconstruction Company Private Limited (IARCL) initiated the Corporate Insolvency Resolution Process (CIRP) against M/s. Samudhra Bio Pharma Private Limited under Section 7 of the Insolvency and Bankruptcy Code (I&B Code), 2016. The CIRP commenced on 04.06.2018. Mr. Mudappallur Varieth Gangadharan was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. The Committee of Creditors (CoCs) decided in its meeting held on 31.08.2018 to liquidate the Corporate Debtor. Consequently, the Resolution Professional filed MA/424/2018 seeking an order for liquidation. The key fact is the CoCs' decision to liquidate the Corporate Debtor after exploring other options, leading to the court's order for liquidation.
Corporate Insolvency…
Mr. Mudappallur Varieth Gangadharan was…