The case pertains to an application filed by the Resolution Professional, Mr. Hitesh Kothari, seeking liquidation of Costra Advertising India Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Costra Advertising India Private Limited following the admission of a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Precision Cut Industries, the Financial Creditor. The IRP made public announcements as per Section 15 of the Code. The Committee of Creditors (CoC) was constituted, comprising Union Bank of India, Indusland Bank, and Siemens Financial Services Private Limited. The CoC resolved for the liquidation of the Corporate Debtor in its 6th meeting and authorized the Applicant to file the application for
…Precision Cut Industries initiated Corporate Insolvency Resolution Process (CIRP) against Costra Advertising India Private Limited by filing a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2019-10-22. Following the initiation of CIRP, public announcements were made. A Committee of Creditors (CoC) was formed, consisting of Union Bank of India (84% voting share), Indusland Bank (12.19% voting share), and Siemens Financial Services Private Limited (3.81% voting share). In the 6th CoC meeting held on 2021-02-08, the CoC resolved to liquidate Costra Advertising India Private Limited and authorized the Resolution Professional to file an application for the same. The Resolution Professional, Mr. Hitesh Kothari, then filed
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The Tribunal admitted the petition under…
The 6th CoC meeting was held, wherein the CoC…
The case pertains to an application filed by the Resolution Professional, Mr. Hitesh Kothari, seeking liquidation of Costra Advertising India Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Costra Advertising India Private Limited following the admission of a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Precision Cut Industries, the Financial Creditor. The IRP made public announcements as per Section 15 of the Code. The Committee of Creditors (CoC) was constituted, comprising Union Bank of India, Indusland Bank, and Siemens Financial Services Private Limited. The CoC resolved for the liquidation of the Corporate Debtor in its 6th meeting and authorized the Applicant to file the application for
…Precision Cut Industries initiated Corporate Insolvency Resolution Process (CIRP) against Costra Advertising India Private Limited by filing a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2019-10-22. Following the initiation of CIRP, public announcements were made. A Committee of Creditors (CoC) was formed, consisting of Union Bank of India (84% voting share), Indusland Bank (12.19% voting share), and Siemens Financial Services Private Limited (3.81% voting share). In the 6th CoC meeting held on 2021-02-08, the CoC resolved to liquidate Costra Advertising India Private Limited and authorized the Resolution Professional to file an application for the same. The Resolution Professional, Mr. Hitesh Kothari, then filed
…The Tribunal admitted the petition under…
The 6th CoC meeting was held, wherein the CoC…