The case involves an application (IA(IBC)/1421(KB)2022) filed under section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 by the Resolution Professional (RP) of BKS Leather Exports Private Limited, the Corporate Debtor, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against BKS Leather Exports Private Limited based on a petition filed under section 9 of the IBC by Chandak Commercial Private Limited. Mr. Pratap Mukherjee was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. A public announcement was made inviting claims from creditors. A Committee of Creditors (CoC) was constituted, and meetings were held to discuss the resolution process. Ultimately, the
…Chandak Commercial Private Limited initiated CIRP against BKS Leather Exports Private Limited under Section 9 of the IBC. Mr. Pratap Mukherjee was appointed as the IRP and later as the RP. A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of one Secured Financial Creditor, one Unsecured Financial Creditor, and two Operational Creditors. The CoC, in its meeting on 29/09/2022, resolved to liquidate the Corporate Debtor with more than 94% voting share, citing the lack of viable resolution plans due to the company being a closed concern with limited tangible assets. The 180-day CIRP period expired on 25/12/2022 without any extension. The RP filed an application (IA(IBC)/1421(KB)2022) under Section
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CP(IB)/324(KB)/…
The Adjudicating Authority ordered the…
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The case involves an application (IA(IBC)/1421(KB)2022) filed under section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 by the Resolution Professional (RP) of BKS Leather Exports Private Limited, the Corporate Debtor, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against BKS Leather Exports Private Limited based on a petition filed under section 9 of the IBC by Chandak Commercial Private Limited. Mr. Pratap Mukherjee was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. A public announcement was made inviting claims from creditors. A Committee of Creditors (CoC) was constituted, and meetings were held to discuss the resolution process. Ultimately, the
…Chandak Commercial Private Limited initiated CIRP against BKS Leather Exports Private Limited under Section 9 of the IBC. Mr. Pratap Mukherjee was appointed as the IRP and later as the RP. A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of one Secured Financial Creditor, one Unsecured Financial Creditor, and two Operational Creditors. The CoC, in its meeting on 29/09/2022, resolved to liquidate the Corporate Debtor with more than 94% voting share, citing the lack of viable resolution plans due to the company being a closed concern with limited tangible assets. The 180-day CIRP period expired on 25/12/2022 without any extension. The RP filed an application (IA(IBC)/1421(KB)2022) under Section
…CP(IB)/324(KB)/…
The Adjudicating Authority ordered the…
Sign in to view related legal provisions.