The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, by M/s. Victory Vision Home Appliances Private Limited, the Corporate Applicant, for initiation of the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the company's inability to meet its financial obligations to its Financial Creditors.
M/s. Victory Vision Home Appliances Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The company defaulted on its financial obligations to its Financial Creditors. The total default amount was ₹6,18,32,427, including ₹2,36,93,695 to Financial Creditors, ₹3,72,77,411 to Operational Creditors, ₹7,90,902 to Employees, and ₹70,419 as Statutory Dues. The shareholders of the company passed a special resolution approving the initiation of CIRP. The company proposed an Interim Resolution Professional (IRP). The application was filed after the company defaulted in payments, as reflected in its audited financial statements for the year ended 31.03.2018 and provisional
…Sign in to view the parties.
Order delivered on the application filed by…
Order pronounced on the application filed by…
The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, by M/s. Victory Vision Home Appliances Private Limited, the Corporate Applicant, for initiation of the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the company's inability to meet its financial obligations to its Financial Creditors.
M/s. Victory Vision Home Appliances Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The company defaulted on its financial obligations to its Financial Creditors. The total default amount was ₹6,18,32,427, including ₹2,36,93,695 to Financial Creditors, ₹3,72,77,411 to Operational Creditors, ₹7,90,902 to Employees, and ₹70,419 as Statutory Dues. The shareholders of the company passed a special resolution approving the initiation of CIRP. The company proposed an Interim Resolution Professional (IRP). The application was filed after the company defaulted in payments, as reflected in its audited financial statements for the year ended 31.03.2018 and provisional
…Order delivered on the application filed by…
Order pronounced on the application filed by…