The case pertains to the dissolution of Abhiraami Chemicals Limited under Section 54 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2021-10-04. Subsequently, liquidation was ordered on 2022-09-19. The liquidator took steps to recover assets, verify claims, and constitute a Stakeholders Consultation Committee (SCC).
The Corporate Insolvency Resolution Process (CIRP) of Abhiraami Chemicals Limited was initiated on 2021-10-04. Liquidation was ordered on 2022-09-19. M.Alagar was appointed as the liquidator. The liquidator made public announcements, verified claims, and constituted a Stakeholders Consultation Committee (SCC) on 2022-11-18. The liquidator opened a bank account for the Corporate Debtor with State Bank of India, Mylapore Branch. The Corporate Debtor had limited assets, including bank balances and deposits. The liquidator recovered Rs. 48,580/- from the Electricity Department of Puducherry. The liquidator's fees were initially set at Rs. 1,60,000/-, but later reduced to Rs. 1,30,000/- due to insufficient funds. The liquidation cost totaled Rs. 2,96,530.32. The liquidator
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Corporate Insolvency…
Liquidation of the…
The case pertains to the dissolution of Abhiraami Chemicals Limited under Section 54 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2021-10-04. Subsequently, liquidation was ordered on 2022-09-19. The liquidator took steps to recover assets, verify claims, and constitute a Stakeholders Consultation Committee (SCC).
The Corporate Insolvency Resolution Process (CIRP) of Abhiraami Chemicals Limited was initiated on 2021-10-04. Liquidation was ordered on 2022-09-19. M.Alagar was appointed as the liquidator. The liquidator made public announcements, verified claims, and constituted a Stakeholders Consultation Committee (SCC) on 2022-11-18. The liquidator opened a bank account for the Corporate Debtor with State Bank of India, Mylapore Branch. The Corporate Debtor had limited assets, including bank balances and deposits. The liquidator recovered Rs. 48,580/- from the Electricity Department of Puducherry. The liquidator's fees were initially set at Rs. 1,60,000/-, but later reduced to Rs. 1,30,000/- due to insufficient funds. The liquidation cost totaled Rs. 2,96,530.32. The liquidator
…Corporate Insolvency…
Liquidation of the…