The case originates from an application (IA-5316/2020) filed in CP (IB)-905(ND)/2019 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The initial Corporate Insolvency Resolution Process (CIRP) was initiated against Valaya Clothing Private Limited following a petition by Sudhir Sales & Services Ltd., an operational creditor, under Section 9 of the IBC, 2016. The CIRP was admitted on 26.11.2019, a moratorium was declared, and Mr. Deepak Maheshwari was appointed as the Interim Resolution Professional (IRP). Several Committee of Creditors (CoC) meetings were held, but no resolution plan was finalized. The applicant sought exclusion of a certain period from the CIRP, direction to CoC members to pay outstanding CIRP costs, initiation of liquidation
…Sudhir Sales & Services Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Valaya Clothing Private Limited by filing CP (IB)-905(ND)/2019 under Section 9 of the IBC, 2016. The CIRP was admitted on 26.11.2019, leading to a moratorium and the appointment of Mr. Deepak Maheshwari as the Interim Resolution Professional (IRP). Several Committee of Creditors (CoC) meetings were convened, but no resolution plan was successfully formulated. The IRP constituted the CoC consisting of two Operational Creditors and Assessing Authority, Gurgaon. The applicant, Mr. Deepak Maheshwari, filed IA-5316/2020 seeking various reliefs, including the exclusion of a certain period from the CIRP, direction to CoC members to pay outstanding CIRP
…Sign in to view the parties.
The Corporate Insolvency Resolution Process…
The 1st Committee of Creditors (CoC) Meeting…
Sign in to view related legal provisions.
The case originates from an application (IA-5316/2020) filed in CP (IB)-905(ND)/2019 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The initial Corporate Insolvency Resolution Process (CIRP) was initiated against Valaya Clothing Private Limited following a petition by Sudhir Sales & Services Ltd., an operational creditor, under Section 9 of the IBC, 2016. The CIRP was admitted on 26.11.2019, a moratorium was declared, and Mr. Deepak Maheshwari was appointed as the Interim Resolution Professional (IRP). Several Committee of Creditors (CoC) meetings were held, but no resolution plan was finalized. The applicant sought exclusion of a certain period from the CIRP, direction to CoC members to pay outstanding CIRP costs, initiation of liquidation
…Sudhir Sales & Services Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Valaya Clothing Private Limited by filing CP (IB)-905(ND)/2019 under Section 9 of the IBC, 2016. The CIRP was admitted on 26.11.2019, leading to a moratorium and the appointment of Mr. Deepak Maheshwari as the Interim Resolution Professional (IRP). Several Committee of Creditors (CoC) meetings were convened, but no resolution plan was successfully formulated. The IRP constituted the CoC consisting of two Operational Creditors and Assessing Authority, Gurgaon. The applicant, Mr. Deepak Maheshwari, filed IA-5316/2020 seeking various reliefs, including the exclusion of a certain period from the CIRP, direction to CoC members to pay outstanding CIRP
…The Corporate Insolvency Resolution Process…
The 1st Committee of Creditors (CoC) Meeting…
Sign in to view related legal provisions.