The Resolution Professional (RP) filed an application seeking initiation of liquidation proceedings against the Corporate Debtor (CD). This was due to the absence of any resolution plans despite the publication of Form-G. The Committee of Creditors (COC) voted with 100% in favor of liquidation during its meeting on September 8, 2023. The RP represented that the assets of the CD available for liquidation are valued at Rs. 20 Lakhs.
The Resolution Professional (RP) filed an application seeking the initiation of liquidation proceedings against the Corporate Debtor (CD), EBC Bearings India Ltd. This action was prompted by the failure to receive any resolution plans despite the publication of Form-G, which is a public announcement inviting resolution plans. The Committee of Creditors (COC) convened a meeting on September 8, 2023, where they unanimously voted (100%) in favor of liquidating the Corporate Debtor. The RP informed the court that the assets of the Corporate Debtor available for liquidation are valued at Rs. 20 Lakhs. The court considered the IBBI circular IBBI/IPA-003/ICAI-N-00384/2021-2022/13926 when appointing the liquidator.
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The Committee of Creditors (COC) voted with…
The court allowed the petition for liquidation…
The Resolution Professional (RP) filed an application seeking initiation of liquidation proceedings against the Corporate Debtor (CD). This was due to the absence of any resolution plans despite the publication of Form-G. The Committee of Creditors (COC) voted with 100% in favor of liquidation during its meeting on September 8, 2023. The RP represented that the assets of the CD available for liquidation are valued at Rs. 20 Lakhs.
The Resolution Professional (RP) filed an application seeking the initiation of liquidation proceedings against the Corporate Debtor (CD), EBC Bearings India Ltd. This action was prompted by the failure to receive any resolution plans despite the publication of Form-G, which is a public announcement inviting resolution plans. The Committee of Creditors (COC) convened a meeting on September 8, 2023, where they unanimously voted (100%) in favor of liquidating the Corporate Debtor. The RP informed the court that the assets of the Corporate Debtor available for liquidation are valued at Rs. 20 Lakhs. The court considered the IBBI circular IBBI/IPA-003/ICAI-N-00384/2021-2022/13926 when appointing the liquidator.
The Committee of Creditors (COC) voted with…
The court allowed the petition for liquidation…