The case involves an application filed by the Resolution Professional of Chirag Vyapaar Private Limited, the Corporate Debtor, seeking liquidation due to the Committee of Creditors (CoC) passing a resolution with 100% voting share for liquidation. The Corporate Debtor had previously undergone Corporate Insolvency Resolution Process (CIRP) initiated by an order dated 01/04/2022. The CoC recommended liquidation due to the Corporate Debtor's lack of tangible assets and accumulated losses.
Rohit Ferro Tech Ltd. is the Operational Creditor. Chirag Vyapaar Private Limited is the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 01/04/2022. Mr. Daulat Ram Jain was appointed as the Interim Resolution Professional. The CoC was duly constituted on 22/04/2022. The CoC, in its 2nd meeting held on 21/05/2022, passed a resolution with 100% voting share for the liquidation of the Corporate Debtor, citing the absence of tangible assets and accumulated losses of approximately Rs. 5.02 Crores as of 31/03/2022 against a Capital Account of Rs. 1.26 Crores. The Resolution Professional, Mr. Daulat Ram Jain, filed an application (IA(IBC)/663(KB)2022) seeking liquidation of the Corporate Debtor. The Resolution Professional has given his consent to act as
…Sign in to view the parties.
Adjudicating authority…
Public Announcement was…
The case involves an application filed by the Resolution Professional of Chirag Vyapaar Private Limited, the Corporate Debtor, seeking liquidation due to the Committee of Creditors (CoC) passing a resolution with 100% voting share for liquidation. The Corporate Debtor had previously undergone Corporate Insolvency Resolution Process (CIRP) initiated by an order dated 01/04/2022. The CoC recommended liquidation due to the Corporate Debtor's lack of tangible assets and accumulated losses.
Rohit Ferro Tech Ltd. is the Operational Creditor. Chirag Vyapaar Private Limited is the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 01/04/2022. Mr. Daulat Ram Jain was appointed as the Interim Resolution Professional. The CoC was duly constituted on 22/04/2022. The CoC, in its 2nd meeting held on 21/05/2022, passed a resolution with 100% voting share for the liquidation of the Corporate Debtor, citing the absence of tangible assets and accumulated losses of approximately Rs. 5.02 Crores as of 31/03/2022 against a Capital Account of Rs. 1.26 Crores. The Resolution Professional, Mr. Daulat Ram Jain, filed an application (IA(IBC)/663(KB)2022) seeking liquidation of the Corporate Debtor. The Resolution Professional has given his consent to act as
…Adjudicating authority…
Public Announcement was…