The case involves M/s. Vintage Foods and Industries Limited, which initially filed for Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC, 2016. The CIRP was initiated, and an IRP was appointed. Subsequently, the IRP conducted the first meeting of the COC, where the COC voted against the IRP becoming the RP. The COC also voted against ratifying expenses and approving remuneration for the IRP. Six COC meetings were held, and the COC approved the initiation of liquidation of the Corporate Debtor, approval for expenditure incurred by RP, and the appointment of Mr. Pankaj Srivastava as Liquidator. The RP informed the COC that there was no chance of revival of the Corporate Debtor, which has been closed since 2003, and the COC recommended liquidation.
M/s. Vintage Foods and Industries Limited initiated CIRP under Section 10 of IBC, 2016. The case was admitted on 2019-07-23, and Mr. Pankaj Khetan was appointed as IRP. The COC voted against the IRP becoming RP and approved liquidation. Six COC meetings were held, and the last meeting was on 2020-03-18. No viable resolution plan was received, and the company was not carrying on any business. The COC approved the initiation of liquidation, the appointment of Mr. Pankaj Srivastava as Liquidator, and the liquidation cost of Rs.3,25,000/-. The RP informed the COC that the CIRP completion period would expire on 2020-04-20 and there was no chance of revival. The RP filed an application for liquidation. The Corporate Debtor had only one land and old building in Thirupathur,
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Corporate Debtor's…
Corporate Debtor held…
The case involves M/s. Vintage Foods and Industries Limited, which initially filed for Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC, 2016. The CIRP was initiated, and an IRP was appointed. Subsequently, the IRP conducted the first meeting of the COC, where the COC voted against the IRP becoming the RP. The COC also voted against ratifying expenses and approving remuneration for the IRP. Six COC meetings were held, and the COC approved the initiation of liquidation of the Corporate Debtor, approval for expenditure incurred by RP, and the appointment of Mr. Pankaj Srivastava as Liquidator. The RP informed the COC that there was no chance of revival of the Corporate Debtor, which has been closed since 2003, and the COC recommended liquidation.
M/s. Vintage Foods and Industries Limited initiated CIRP under Section 10 of IBC, 2016. The case was admitted on 2019-07-23, and Mr. Pankaj Khetan was appointed as IRP. The COC voted against the IRP becoming RP and approved liquidation. Six COC meetings were held, and the last meeting was on 2020-03-18. No viable resolution plan was received, and the company was not carrying on any business. The COC approved the initiation of liquidation, the appointment of Mr. Pankaj Srivastava as Liquidator, and the liquidation cost of Rs.3,25,000/-. The RP informed the COC that the CIRP completion period would expire on 2020-04-20 and there was no chance of revival. The RP filed an application for liquidation. The Corporate Debtor had only one land and old building in Thirupathur,
…Corporate Debtor's…
Corporate Debtor held…