The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s. Tag Info Solutions India Private Limited. An earlier Section 7 application by the Financial Creditor led to the initiation of the Corporate Insolvency Resolution Process (CIRP) via a Tribunal order dated 2019-08-05. The applicant was appointed as the Interim Resolution Professional (IRP).
A Section 7 application was filed by the Financial Creditor against the Corporate Debtor, M/s. Tag Info Solutions India Private Limited, leading to the initiation of CIRP via a Tribunal order dated 2019-08-05. The applicant was appointed as the Interim Resolution Professional (IRP). A public announcement was made under Section 15 of IBC, 2016, inviting claims. The CoC was initially constituted with a single Financial Creditor holding 100% voting share, later reconstituted with Indian Bank holding 66.71% and Dr. Palaniappan holding 33.29%. The Resolution Professional conducted six CoC meetings but faced non-cooperation from the promoters. The CoC unanimously resolved to liquidate the Corporate Debtor in its 6th meeting held on 2020-09-30. The Adjudicating Authority
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Tribunal order initiating the Corporate…
Public Announcement…
The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s. Tag Info Solutions India Private Limited. An earlier Section 7 application by the Financial Creditor led to the initiation of the Corporate Insolvency Resolution Process (CIRP) via a Tribunal order dated 2019-08-05. The applicant was appointed as the Interim Resolution Professional (IRP).
A Section 7 application was filed by the Financial Creditor against the Corporate Debtor, M/s. Tag Info Solutions India Private Limited, leading to the initiation of CIRP via a Tribunal order dated 2019-08-05. The applicant was appointed as the Interim Resolution Professional (IRP). A public announcement was made under Section 15 of IBC, 2016, inviting claims. The CoC was initially constituted with a single Financial Creditor holding 100% voting share, later reconstituted with Indian Bank holding 66.71% and Dr. Palaniappan holding 33.29%. The Resolution Professional conducted six CoC meetings but faced non-cooperation from the promoters. The CoC unanimously resolved to liquidate the Corporate Debtor in its 6th meeting held on 2020-09-30. The Adjudicating Authority
…Tribunal order initiating the Corporate…
Public Announcement…