The case involves an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, initiated by Badjate Stock & Shares Private Limited against Snowblue Trexim Privatge Limited. The Corporate Insolvency Resolution Process (CIRP) commenced on 2017-12-11 but faced non-cooperation from the Corporate Debtor in providing necessary information and documents. The Resolution Professional (RP) was unable to finalize a resolution plan, leading the Committee of Creditors (COC) to unanimously decide on liquidation.
Badjate Stock & Shares Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Snowblue Trexim Privatge Limited under Section 9 of the Insolvency & Bankruptcy Code, 2016. The CIRP commenced on 2017-12-11. The Corporate Debtor failed to cooperate by not providing necessary information and documents to the Resolution Professional (RP). The RP conducted three meetings with the Committee of Creditors (COC). The COC unanimously decided to proceed with liquidation due to the Corporate Debtor's non-cooperation and the absence of a viable resolution plan. The RP noted transactions structured as undervalued or preferential, including an investment of Rs. 6.33 crores in Versatile Infra Projects Limited. The financial statements of the Corporate
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Corporate Ins…
NCLT Order ex…
The case involves an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, initiated by Badjate Stock & Shares Private Limited against Snowblue Trexim Privatge Limited. The Corporate Insolvency Resolution Process (CIRP) commenced on 2017-12-11 but faced non-cooperation from the Corporate Debtor in providing necessary information and documents. The Resolution Professional (RP) was unable to finalize a resolution plan, leading the Committee of Creditors (COC) to unanimously decide on liquidation.
Badjate Stock & Shares Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Snowblue Trexim Privatge Limited under Section 9 of the Insolvency & Bankruptcy Code, 2016. The CIRP commenced on 2017-12-11. The Corporate Debtor failed to cooperate by not providing necessary information and documents to the Resolution Professional (RP). The RP conducted three meetings with the Committee of Creditors (COC). The COC unanimously decided to proceed with liquidation due to the Corporate Debtor's non-cooperation and the absence of a viable resolution plan. The RP noted transactions structured as undervalued or preferential, including an investment of Rs. 6.33 crores in Versatile Infra Projects Limited. The financial statements of the Corporate
…Corporate Ins…
NCLT Order ex…