The Corporate Insolvency Resolution Process (CIRP) was initiated against Ramya Outsourcing Solutions Private Limited (Corporate Debtor) on a petition filed by Mr. J. Mohan Babu under Section 7 of the IBC. Mr. R. Thamodharan was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was constituted and later reconstituted, comprising four financial creditors and one operational creditor. The IRP presented audited financials showing significant irregularities and insufficient assets to cover CIRP expenses or claims. The CoC, noting the Corporate Debtor's minimal assets (Rs. 74,981/-) against substantial claims (Rs. 2.40 Crores) and CIRP expenses (Rs. 11,95,292/-), unanimously resolved for direct dissolution without undergoing a full
…A petition was filed by Mr. J. Mohan Babu, proprietor of M/s. Annai Audit Firm, under Section 7 of the IBC against Ramya Outsourcing Solutions Private Limited.
CIRP was initiated against the Corporate Debtor on 26.07.2024, and Mr. R. Thamodharan was appointed as the Interim Resolution Professional (IRP).
Public announcement inviting claims was made on 03.08.2024.
The Committee of Creditors (CoC) was constituted on 19.08.2024 and reconstituted on 27.12.2024.
The CoC initially comprised J. Mohan Babu (43.29%), Bajaj Finserv Limited (12.69%), HDFC Bank Limited (1.71%), and ICICI Bank Limited (42.31%).
EPFO Department submitted a claim of Rs. 4,45,479/-, which was admitted by the RP.
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Corporate Insolvency Resolution Process…
Public announcement made in Business Standard…
The Corporate Insolvency Resolution Process (CIRP) was initiated against Ramya Outsourcing Solutions Private Limited (Corporate Debtor) on a petition filed by Mr. J. Mohan Babu under Section 7 of the IBC. Mr. R. Thamodharan was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was constituted and later reconstituted, comprising four financial creditors and one operational creditor. The IRP presented audited financials showing significant irregularities and insufficient assets to cover CIRP expenses or claims. The CoC, noting the Corporate Debtor's minimal assets (Rs. 74,981/-) against substantial claims (Rs. 2.40 Crores) and CIRP expenses (Rs. 11,95,292/-), unanimously resolved for direct dissolution without undergoing a full
…A petition was filed by Mr. J. Mohan Babu, proprietor of M/s. Annai Audit Firm, under Section 7 of the IBC against Ramya Outsourcing Solutions Private Limited.
CIRP was initiated against the Corporate Debtor on 26.07.2024, and Mr. R. Thamodharan was appointed as the Interim Resolution Professional (IRP).
Public announcement inviting claims was made on 03.08.2024.
The Committee of Creditors (CoC) was constituted on 19.08.2024 and reconstituted on 27.12.2024.
The CoC initially comprised J. Mohan Babu (43.29%), Bajaj Finserv Limited (12.69%), HDFC Bank Limited (1.71%), and ICICI Bank Limited (42.31%).
EPFO Department submitted a claim of Rs. 4,45,479/-, which was admitted by the RP.
…Corporate Insolvency Resolution Process…
Public announcement made in Business Standard…