The case involves an application (I.A. No.489 of 2020) filed by the liquidator of M/s. Triumph India Software Services Private Limited, seeking the dissolution of the corporate debtor under Section 54 read with Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 45(3)(b) of the IBBI (Liquidation Process) Regulations, 2016. Initially, a Corporate Insolvency Resolution Process (CIRP) was initiated by the corporate debtor under Section 10 of the IBC, which was admitted on April 5, 2018. Subsequently, an order for liquidation was passed on June 4, 2019, and a liquidator was appointed. The liquidator then made a public announcement and intimated creditors, receiving claims amounting to Rs. 8,89,60,551/-. The liquidator also prepared an asset
…M/s. Triumph India Software Services Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by the Corporate Debtor itself under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on April 5, 2018. Subsequently, the Adjudicating Authority ordered the liquidation of the Corporate Debtor on June 4, 2019, and appointed Mr. Venkata Subbarao Kalva as the liquidator. The liquidator made a public announcement on June 8, 2019, and received claims from creditors amounting to Rs. 8,89,60,551/-. The liquidator sold various assets of the Corporate Debtor, including vehicles, office equipment, furniture, computers, and intangible assets, realizing a total of Rs. 41,61,448/-. The liquidator also filed an application under
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The case involves an application (I.A. No.489 of 2020) filed by the liquidator of M/s. Triumph India Software Services Private Limited, seeking the dissolution of the corporate debtor under Section 54 read with Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 45(3)(b) of the IBBI (Liquidation Process) Regulations, 2016. Initially, a Corporate Insolvency Resolution Process (CIRP) was initiated by the corporate debtor under Section 10 of the IBC, which was admitted on April 5, 2018. Subsequently, an order for liquidation was passed on June 4, 2019, and a liquidator was appointed. The liquidator then made a public announcement and intimated creditors, receiving claims amounting to Rs. 8,89,60,551/-. The liquidator also prepared an asset
…M/s. Triumph India Software Services Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by the Corporate Debtor itself under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on April 5, 2018. Subsequently, the Adjudicating Authority ordered the liquidation of the Corporate Debtor on June 4, 2019, and appointed Mr. Venkata Subbarao Kalva as the liquidator. The liquidator made a public announcement on June 8, 2019, and received claims from creditors amounting to Rs. 8,89,60,551/-. The liquidator sold various assets of the Corporate Debtor, including vehicles, office equipment, furniture, computers, and intangible assets, realizing a total of Rs. 41,61,448/-. The liquidator also filed an application under
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