The case pertains to an application filed under section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking a liquidation order for M/s. Surana Corporation Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated, and a Resolution Professional (RP) was appointed. Financial and operational creditors' claims were admitted. The RP prepared an Information Memorandum and invited expressions of interest, but no resolution plan was received. The Committee of Creditors (CoC) approved the resolution for liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Surana Corporation Limited under the IBC, 2016. Mr. C. Ramasubramaniam was appointed as the Resolution Professional (RP). Financial creditors' claims of ₹24,84,66,91,149.21 and operational creditors' claims of ₹42,72,95,631 were admitted. The RP prepared an Information Memorandum and invited expressions of interest, but no resolution applicant came forward by the deadline of 17.02.2019. The Committee of Creditors (CoC) approved a resolution for liquidation on 03.04.2019. The liquidation average value was determined as ₹4,63,00,000. The NCLT, Chennai Bench, considered the application and ordered the liquidation of the Corporate Debtor.
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CP/550/IB/20…
The Applicant was…
The case pertains to an application filed under section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking a liquidation order for M/s. Surana Corporation Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated, and a Resolution Professional (RP) was appointed. Financial and operational creditors' claims were admitted. The RP prepared an Information Memorandum and invited expressions of interest, but no resolution plan was received. The Committee of Creditors (CoC) approved the resolution for liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Surana Corporation Limited under the IBC, 2016. Mr. C. Ramasubramaniam was appointed as the Resolution Professional (RP). Financial creditors' claims of ₹24,84,66,91,149.21 and operational creditors' claims of ₹42,72,95,631 were admitted. The RP prepared an Information Memorandum and invited expressions of interest, but no resolution applicant came forward by the deadline of 17.02.2019. The Committee of Creditors (CoC) approved a resolution for liquidation on 03.04.2019. The liquidation average value was determined as ₹4,63,00,000. The NCLT, Chennai Bench, considered the application and ordered the liquidation of the Corporate Debtor.
CP/550/IB/20…
The Applicant was…