The case involves an application for the initiation of liquidation of Snehdaxa Infrastructure Pvt Ltd. The Committee of Creditors (COC) resolved to close the Corporate Insolvency Resolution Process (CIRP) and initiate liquidation due to the absence 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) held its 4th meeting on 2019-10-24 and resolved to close the CIRP due to the absence of a viable resolution plan. All members of the COC assented to move an application for the initiation of liquidation. The Resolution Professional (RP) submitted that there was no bank balance available in the Corporate Debtor's bank account for conducting the liquidation process. The COC decided to open a pool account for liquidation expenses. The RP gave his consent to continue as liquidator on 2019-11-16. The COC voted 100% in favor of liquidation. The CIRP period of 270 days was completed on 2019-11-03. The notice was issued to the Suspended
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The COC resolved to…
270 days of…
The case involves an application for the initiation of liquidation of Snehdaxa Infrastructure Pvt Ltd. The Committee of Creditors (COC) resolved to close the Corporate Insolvency Resolution Process (CIRP) and initiate liquidation due to the absence 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) held its 4th meeting on 2019-10-24 and resolved to close the CIRP due to the absence of a viable resolution plan. All members of the COC assented to move an application for the initiation of liquidation. The Resolution Professional (RP) submitted that there was no bank balance available in the Corporate Debtor's bank account for conducting the liquidation process. The COC decided to open a pool account for liquidation expenses. The RP gave his consent to continue as liquidator on 2019-11-16. The COC voted 100% in favor of liquidation. The CIRP period of 270 days was completed on 2019-11-03. The notice was issued to the Suspended
…The COC resolved to…
270 days of…