The case involves an application (IA/403(AHM)2023) filed by the liquidator, Mr. Tejas Shah, of Bansal Infracon Private Limited, under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the dissolution of the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by Mr. Kanada Hiren Mahendrabhai under Section 9 of the IBC. An order for CIRP initiation was passed on 29.11.2021, and Mr. Tejas Shah was appointed as the Interim Resolution Professional (IRP) and later as the liquidator. The Committee of Creditors (CoC) unanimously resolved to liquidate the Corporate Debtor on 02.03.2022, and the liquidation was allowed by the NCLT on 31.05.2022. The liquidator complied with various regulations,
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Bansal Infracon Private Limited based on a petition filed by Mr. Kanada Hiren Mahendrabhai, an operational creditor, under Section 9 of the IBC, 2016. The company was incorporated on 26.02.1998 and engaged in ship-breaking activities. The CIRP was initiated on 29.11.2021, and Mr. Tejas Shah was appointed as the Interim Resolution Professional (IRP) and later as the liquidator. The Committee of Creditors (CoC) unanimously resolved to liquidate the Corporate Debtor on 02.03.2022. The liquidation process was approved by the NCLT on 31.05.2022. Mr. Tejas Shah made public announcements and prepared a list of stakeholders. The total outstanding default was Rs. 8,20,000. The liquidator recovered Rs.
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CP(IB) No.383/9/NCLT/AHM…
Order for initiation of…
The case involves an application (IA/403(AHM)2023) filed by the liquidator, Mr. Tejas Shah, of Bansal Infracon Private Limited, under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the dissolution of the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by Mr. Kanada Hiren Mahendrabhai under Section 9 of the IBC. An order for CIRP initiation was passed on 29.11.2021, and Mr. Tejas Shah was appointed as the Interim Resolution Professional (IRP) and later as the liquidator. The Committee of Creditors (CoC) unanimously resolved to liquidate the Corporate Debtor on 02.03.2022, and the liquidation was allowed by the NCLT on 31.05.2022. The liquidator complied with various regulations,
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Bansal Infracon Private Limited based on a petition filed by Mr. Kanada Hiren Mahendrabhai, an operational creditor, under Section 9 of the IBC, 2016. The company was incorporated on 26.02.1998 and engaged in ship-breaking activities. The CIRP was initiated on 29.11.2021, and Mr. Tejas Shah was appointed as the Interim Resolution Professional (IRP) and later as the liquidator. The Committee of Creditors (CoC) unanimously resolved to liquidate the Corporate Debtor on 02.03.2022. The liquidation process was approved by the NCLT on 31.05.2022. Mr. Tejas Shah made public announcements and prepared a list of stakeholders. The total outstanding default was Rs. 8,20,000. The liquidator recovered Rs.
…CP(IB) No.383/9/NCLT/AHM…
Order for initiation of…