The Resolution Professional filed an application seeking liquidation under Section 31 of the I&B Code. The Committee of Creditors (CoC) decided in its fourth meeting on 01.07.2020 to file the application for liquidation of the Corporate Debtor. The RP mentioned that COC members were strongly of the view that there is no point in publication of Form G-Expression of interest and RP also understands the view of the COC members that there is no point in searching for a buyer when there is no information of the Corporate Debtor available. Axis Bank and Yes Bank have internal approval to take the Corporate Debtor into Liquidation. The RP apprised the COC that the Holding Company of Urban Transit Private, SCOMI Engineering Bhd is already under liquidation.
The Resolution Professional (RP) filed an application seeking liquidation of Urban Transit Private Limited (Corporate Debtor) under Section 31 of the Insolvency and Bankruptcy Code (I&B Code). The Committee of Creditors (CoC) decided in its fourth meeting held on 01.07.2020 to file the liquidation application. The CoC members expressed the view that there was no point in publishing Form G (Expression of Interest) or searching for a buyer due to the lack of available information about the Corporate Debtor. Axis Bank and Yes Bank indicated they had internal approvals to take the Corporate Debtor into liquidation. The RP informed the CoC that the Holding Company of Urban Transit Private, SCOMI Engineering Bhd, was already under liquidation. The CoC approved a fee of
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The Committee of Creditors (CoC) decided in…
The Mumbai Bench of the National Company Law…
The Resolution Professional filed an application seeking liquidation under Section 31 of the I&B Code. The Committee of Creditors (CoC) decided in its fourth meeting on 01.07.2020 to file the application for liquidation of the Corporate Debtor. The RP mentioned that COC members were strongly of the view that there is no point in publication of Form G-Expression of interest and RP also understands the view of the COC members that there is no point in searching for a buyer when there is no information of the Corporate Debtor available. Axis Bank and Yes Bank have internal approval to take the Corporate Debtor into Liquidation. The RP apprised the COC that the Holding Company of Urban Transit Private, SCOMI Engineering Bhd is already under liquidation.
The Resolution Professional (RP) filed an application seeking liquidation of Urban Transit Private Limited (Corporate Debtor) under Section 31 of the Insolvency and Bankruptcy Code (I&B Code). The Committee of Creditors (CoC) decided in its fourth meeting held on 01.07.2020 to file the liquidation application. The CoC members expressed the view that there was no point in publishing Form G (Expression of Interest) or searching for a buyer due to the lack of available information about the Corporate Debtor. Axis Bank and Yes Bank indicated they had internal approvals to take the Corporate Debtor into liquidation. The RP informed the CoC that the Holding Company of Urban Transit Private, SCOMI Engineering Bhd, was already under liquidation. The CoC approved a fee of
…The Committee of Creditors (CoC) decided in…
The Mumbai Bench of the National Company Law…