The case pertains to an application filed under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 45 of the IBBI (Liquidation Process) Regulations, 2016, seeking the dissolution of M/s Yagmag Labs Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Yagmag Labs Private Limited following a petition filed under Section 9 of the IBC by Cosmic Chemicals, an Operational Creditor. The Tribunal admitted the petition on 18.02.2019. Mr. Ram Murthy Kommera was initially appointed as the Interim Resolution Professional (IRP), later replaced by the Applicant as the Resolution Professional (RP) on 30.04.2019. Subsequently, on 14.10.2019, the Tribunal ordered the liquidation of the
…Cosmic Chemicals, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Yagmag Labs Private Limited, the Corporate Debtor. The petition was admitted on 18.02.2019, initiating the Corporate Insolvency Resolution Process (CIRP). Mr. Ram Murthy Kommera was appointed as the Interim Resolution Professional (IRP), later replaced by the Applicant as the Resolution Professional (RP) on 30.04.2019. Subsequently, on 14.10.2019, the Tribunal ordered the liquidation of the Corporate Debtor, and the Applicant was appointed as the Liquidator. The Liquidator issued public announcements as required under Regulation 12 of the IBBI (Liquidation Process) Regulations, 2016, inviting claims from stakeholders. A liquidation
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The case pertains to an application filed under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 45 of the IBBI (Liquidation Process) Regulations, 2016, seeking the dissolution of M/s Yagmag Labs Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Yagmag Labs Private Limited following a petition filed under Section 9 of the IBC by Cosmic Chemicals, an Operational Creditor. The Tribunal admitted the petition on 18.02.2019. Mr. Ram Murthy Kommera was initially appointed as the Interim Resolution Professional (IRP), later replaced by the Applicant as the Resolution Professional (RP) on 30.04.2019. Subsequently, on 14.10.2019, the Tribunal ordered the liquidation of the
…Cosmic Chemicals, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Yagmag Labs Private Limited, the Corporate Debtor. The petition was admitted on 18.02.2019, initiating the Corporate Insolvency Resolution Process (CIRP). Mr. Ram Murthy Kommera was appointed as the Interim Resolution Professional (IRP), later replaced by the Applicant as the Resolution Professional (RP) on 30.04.2019. Subsequently, on 14.10.2019, the Tribunal ordered the liquidation of the Corporate Debtor, and the Applicant was appointed as the Liquidator. The Liquidator issued public announcements as required under Regulation 12 of the IBBI (Liquidation Process) Regulations, 2016, inviting claims from stakeholders. A liquidation
…Tribunal admitted the petition filed under…
Applicant replaced Mr.…
Sign in to view related legal provisions.