The case involves an application filed by Mr. Rahul Drolia, the Resolution Professional of the Corporate Debtor, Archis Enterprises (India) Private Limited, seeking liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Archis Enterprises (India) Private Limited following an order by the Tribunal on 2024-03-12, based on a petition filed by Mahashakti Plasto Private Limited under Section 9 of the Code. Mr. Rahul Drolia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.
Mr. Rahul Drolia, the Resolution Professional, filed an application seeking liquidation of Archis Enterprises (India) Private Limited under Section 33 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated against Archis Enterprises following a petition by Mahashakti Plasto Private Limited. The Tribunal admitted the petition on 2024-03-12. A public announcement was issued, and two claims were received from operational creditors. The Committee of Creditors (CoC) was formed, consisting of Department of Goods & Tax (78.06% voting rights), Employees State Insurance Corporation (3.43%), and Employees Provident Fund Organisation (18.51%). The CoC observed the absence of tangible or intangible assets and recommended liquidation. The 4th CoC meeting was held
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Insolvenc…
Tribunal orders initiation of CIRP against…
The case involves an application filed by Mr. Rahul Drolia, the Resolution Professional of the Corporate Debtor, Archis Enterprises (India) Private Limited, seeking liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Archis Enterprises (India) Private Limited following an order by the Tribunal on 2024-03-12, based on a petition filed by Mahashakti Plasto Private Limited under Section 9 of the Code. Mr. Rahul Drolia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.
Mr. Rahul Drolia, the Resolution Professional, filed an application seeking liquidation of Archis Enterprises (India) Private Limited under Section 33 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated against Archis Enterprises following a petition by Mahashakti Plasto Private Limited. The Tribunal admitted the petition on 2024-03-12. A public announcement was issued, and two claims were received from operational creditors. The Committee of Creditors (CoC) was formed, consisting of Department of Goods & Tax (78.06% voting rights), Employees State Insurance Corporation (3.43%), and Employees Provident Fund Organisation (18.51%). The CoC observed the absence of tangible or intangible assets and recommended liquidation. The 4th CoC meeting was held
…Insolvenc…
Tribunal orders initiation of CIRP against…