The case involves a company petition filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, by Additri Traders Private Limited, seeking voluntary liquidation. An application was previously filed to initiate the Corporate Insolvency Resolution Process (CIRP) against Additri Traders by Katyayan Mercantile and Trading Private Limited under Section 9 of the IBC, which was allowed on 2023-06-15. Sachin Dharmendra Jain was appointed as the Resolution Professional. The Committee of Creditors (CoC) decided to dissolve the Corporate Debtor due to the absence of assets. Public announcements were made as per IBBI regulations, and the CoC was constituted with Latyaya Mercantile as the sole operational creditor.
Additri Traders Private Limited filed a company petition under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, seeking voluntary liquidation. Previously, Katyayan Mercantile and Trading Private Limited initiated CIRP against Additri Traders under Section 9 of the IBC, which was approved on 2023-06-15, appointing Sachin Dharmendra Jain as the Resolution Professional. The second meeting of the CoC on 2023-10-30 revealed that Additri Traders had no movable or immovable assets. Consequently, the CoC resolved to dissolve the company under Section 54 of the IBC. Public announcements were made in newspapers on 2023-08-23, and the CoC consisted solely of Latyaya Mercantile. The audited balance sheet indicated that the company's movable assets had turned into debris,
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Application to initiate Corporate Insolvency…
Second meeting of the Committee of Creditors…
The case involves a company petition filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, by Additri Traders Private Limited, seeking voluntary liquidation. An application was previously filed to initiate the Corporate Insolvency Resolution Process (CIRP) against Additri Traders by Katyayan Mercantile and Trading Private Limited under Section 9 of the IBC, which was allowed on 2023-06-15. Sachin Dharmendra Jain was appointed as the Resolution Professional. The Committee of Creditors (CoC) decided to dissolve the Corporate Debtor due to the absence of assets. Public announcements were made as per IBBI regulations, and the CoC was constituted with Latyaya Mercantile as the sole operational creditor.
Additri Traders Private Limited filed a company petition under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, seeking voluntary liquidation. Previously, Katyayan Mercantile and Trading Private Limited initiated CIRP against Additri Traders under Section 9 of the IBC, which was approved on 2023-06-15, appointing Sachin Dharmendra Jain as the Resolution Professional. The second meeting of the CoC on 2023-10-30 revealed that Additri Traders had no movable or immovable assets. Consequently, the CoC resolved to dissolve the company under Section 54 of the IBC. Public announcements were made in newspapers on 2023-08-23, and the CoC consisted solely of Latyaya Mercantile. The audited balance sheet indicated that the company's movable assets had turned into debris,
…Application to initiate Corporate Insolvency…
Second meeting of the Committee of Creditors…