The case involves an application for the initiation of liquidation proceedings for Snehdaxa Infrastructure Pvt Ltd. The Committee of Creditors (COC) resolved to close the Corporate Insolvency Resolution Process (CIRP) and initiate liquidation due to the lack of a viable resolution plan. The COC authorized the Resolution Professional (RP) to file an application for liquidation before the Adjudicating Authority.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Snehdaxa Infrastructure Pvt Ltd. The Committee of Creditors (COC) resolved to close the CIRP due to the lack of a viable resolution plan. The COC authorized the Resolution Professional (RP) to file an application for liquidation. The RP submitted that there were no assets in the Corporate Debtor's bank account. The COC decided to open a pool account to meet the expenses under liquidation. The RP has given his consent to continue as liquidator. The COC voted 100% in favor of liquidation. 270 days of CIRP have been completed/over on 03.11.2019. No expression of interest received from any prospective Resolution Applicant.
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The COC in its 4th…
270 days of CI…
The case involves an application for the initiation of liquidation proceedings for Snehdaxa Infrastructure Pvt Ltd. The Committee of Creditors (COC) resolved to close the Corporate Insolvency Resolution Process (CIRP) and initiate liquidation due to the lack of a viable resolution plan. The COC authorized the Resolution Professional (RP) to file an application for liquidation before the Adjudicating Authority.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Snehdaxa Infrastructure Pvt Ltd. The Committee of Creditors (COC) resolved to close the CIRP due to the lack of a viable resolution plan. The COC authorized the Resolution Professional (RP) to file an application for liquidation. The RP submitted that there were no assets in the Corporate Debtor's bank account. The COC decided to open a pool account to meet the expenses under liquidation. The RP has given his consent to continue as liquidator. The COC voted 100% in favor of liquidation. 270 days of CIRP have been completed/over on 03.11.2019. No expression of interest received from any prospective Resolution Applicant.
The COC in its 4th…
270 days of CI…