The case pertains to an application (I.A. No. 811/2020) filed by the Resolution Professional, Mr. Amit C Poddar, seeking the liquidation of En Power Solutions Private Limited, the Corporate Debtor, under Section 33(3) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC), consisting of South Indian Bank, had resolved to liquidate the Corporate Debtor. The CoC initially kept the RP's appointment pending, then unanimously decided to liquidate the CD and authorized the RP to file a liquidation application. The RP proposed himself as liquidator, but later refused the appointment due to a disagreement over fees. The CoC then resolved the liquidator's fees as per IBBI regulations, subject to a minimum of Rs. 2,50,000 plus taxes. A public announcement
…En Power Solutions Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC), consisting of South Indian Bank, resolved to liquidate the Corporate Debtor. The Resolution Professional (RP), Mr. Amit C Poddar, initially sought to be appointed as liquidator but later refused due to disagreement over fees. The CoC resolved the liquidator's fees as per IBBI regulations, subject to a minimum of Rs. 2,50,000 plus taxes. A public announcement was made inviting claims from creditors. The CoC decided to proceed with liquidation without inviting Expression of Interest. The CoC member Mr. Justin Jose mentioned that there are no immovable assets in the name of the Corporate Debtor, and the only property mortgaged with their Bank is in the
…Sign in to view the parties.
The first meeting of the Committee of Creditors…
In the 2nd meeting of the CoC, members…
The case pertains to an application (I.A. No. 811/2020) filed by the Resolution Professional, Mr. Amit C Poddar, seeking the liquidation of En Power Solutions Private Limited, the Corporate Debtor, under Section 33(3) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC), consisting of South Indian Bank, had resolved to liquidate the Corporate Debtor. The CoC initially kept the RP's appointment pending, then unanimously decided to liquidate the CD and authorized the RP to file a liquidation application. The RP proposed himself as liquidator, but later refused the appointment due to a disagreement over fees. The CoC then resolved the liquidator's fees as per IBBI regulations, subject to a minimum of Rs. 2,50,000 plus taxes. A public announcement
…En Power Solutions Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC), consisting of South Indian Bank, resolved to liquidate the Corporate Debtor. The Resolution Professional (RP), Mr. Amit C Poddar, initially sought to be appointed as liquidator but later refused due to disagreement over fees. The CoC resolved the liquidator's fees as per IBBI regulations, subject to a minimum of Rs. 2,50,000 plus taxes. A public announcement was made inviting claims from creditors. The CoC decided to proceed with liquidation without inviting Expression of Interest. The CoC member Mr. Justin Jose mentioned that there are no immovable assets in the name of the Corporate Debtor, and the only property mortgaged with their Bank is in the
…The first meeting of the Committee of Creditors…
In the 2nd meeting of the CoC, members…