The case involves an application filed by the Interim Resolution Professional (IRP) under Rule 11 of NCLT Rules. The IRP reported that no claims were filed by creditors, and the only claim filed by the Operational Creditor was rejected. Consequently, no Committee of Creditors (COC) was formed. The IRP also stated that the Corporate Debtor was untraceable, and no directors were found at their residential addresses. An earlier application under Section 19(2) and 60(5) of the IBC was filed, but service could not be effected due to a lack of details regarding the Corporate Debtor and its directors.
Ushasree Tea Private Limited filed an application against Shanti Equities Private Limited under Section 9 of the IBC. The IRP, appointed for Shanti Equities Private Limited, reported that no claims were filed by creditors, and the only claim by the Operational Creditor was rejected. The Corporate Debtor, Shanti Equities Private Limited, was untraceable, and its directors were not found at their residential addresses. The IRP's efforts to obtain information about the Corporate Debtor were unsuccessful. The Operational Creditor incurred expenses exceeding the claim amount and requested the closure of the CIRP. The IRP's report indicated the non-availability of balance sheets and annual returns, except for one from 2011-12. The MCA website showed the directors' details,
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CIRP initiate…
Order delive…
The case involves an application filed by the Interim Resolution Professional (IRP) under Rule 11 of NCLT Rules. The IRP reported that no claims were filed by creditors, and the only claim filed by the Operational Creditor was rejected. Consequently, no Committee of Creditors (COC) was formed. The IRP also stated that the Corporate Debtor was untraceable, and no directors were found at their residential addresses. An earlier application under Section 19(2) and 60(5) of the IBC was filed, but service could not be effected due to a lack of details regarding the Corporate Debtor and its directors.
Ushasree Tea Private Limited filed an application against Shanti Equities Private Limited under Section 9 of the IBC. The IRP, appointed for Shanti Equities Private Limited, reported that no claims were filed by creditors, and the only claim by the Operational Creditor was rejected. The Corporate Debtor, Shanti Equities Private Limited, was untraceable, and its directors were not found at their residential addresses. The IRP's efforts to obtain information about the Corporate Debtor were unsuccessful. The Operational Creditor incurred expenses exceeding the claim amount and requested the closure of the CIRP. The IRP's report indicated the non-availability of balance sheets and annual returns, except for one from 2011-12. The MCA website showed the directors' details,
…CIRP initiate…
Order delive…