The case pertains to an application filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulation, 2016, for the dissolution of the Corporate Debtor, M/s Berial Engineers Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated against Tata Hitachi Construction Machinery Co. Pvt. Ltd. The Committee of Creditors (CoC) recommended liquidation due to the Corporate Debtor's lack of business activity since 2011, absence of assets, and unavailability of books of accounts and audited financials since 2009-10. The Hon'ble Tribunal ordered the commencement of liquidation on 08th April 2022 and appointed the applicant as the Liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Tata Hitachi Construction Machinery Co. Pvt. Ltd. via order dated 10th December 2021. Purshotam Gaggar was appointed as the Interim Resolution Professional (IRP). The IRP received two claims, one from UCO Bank (Rs. 9,79,26,620.58) and another from Tata Hitachi Construction Co. Pvt. Ltd. (Rs. 13,28,79,360.00). UCO Bank was the sole financial creditor and held 100% voting rights in the Committee of Creditors (CoC). The CoC recommended liquidation of the Corporate Debtor, M/s. Berial Engineers Pvt. Ltd., due to the absence of business activity since 2011, lack of assets, and unavailability of books of accounts and audited financials since 2009-10. The liquidation value of the corporate debtor was
…Sign in to view the parties.
The Hon'ble Tribunal ordered the commencement…
The order of the Hon'ble NCLT was communicated…
The case pertains to an application filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulation, 2016, for the dissolution of the Corporate Debtor, M/s Berial Engineers Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated against Tata Hitachi Construction Machinery Co. Pvt. Ltd. The Committee of Creditors (CoC) recommended liquidation due to the Corporate Debtor's lack of business activity since 2011, absence of assets, and unavailability of books of accounts and audited financials since 2009-10. The Hon'ble Tribunal ordered the commencement of liquidation on 08th April 2022 and appointed the applicant as the Liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Tata Hitachi Construction Machinery Co. Pvt. Ltd. via order dated 10th December 2021. Purshotam Gaggar was appointed as the Interim Resolution Professional (IRP). The IRP received two claims, one from UCO Bank (Rs. 9,79,26,620.58) and another from Tata Hitachi Construction Co. Pvt. Ltd. (Rs. 13,28,79,360.00). UCO Bank was the sole financial creditor and held 100% voting rights in the Committee of Creditors (CoC). The CoC recommended liquidation of the Corporate Debtor, M/s. Berial Engineers Pvt. Ltd., due to the absence of business activity since 2011, lack of assets, and unavailability of books of accounts and audited financials since 2009-10. The liquidation value of the corporate debtor was
…The Hon'ble Tribunal ordered the commencement…
The order of the Hon'ble NCLT was communicated…