The case pertains to an application filed by the Resolution Professional (RP) of Fashion Equation Pvt. Ltd. under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 28.04.2022. The RP was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided not to proceed with the issuance of Form-G (Expression of Interest) and instead recommended liquidation due to the Corporate Debtor having no assets and not being in operation for several years.
The Corporate Insolvency Resolution Process (CIRP) of Fashion Equation Pvt. Ltd. was initiated on 2022-04-28. The Resolution Professional (RP) was appointed as the Interim Resolution Professional (IRP). The first meeting of the Committee of Creditors (CoC) was held on 2022-05-30, where the asset position of the Corporate Debtor was discussed. The Corporate Debtor was reported to have no assets and certain receivables as of 2021-03-31. The RP did not appoint a valuer initially due to the lack of assets, but later the applicant appointed a financial valuer. In the third CoC meeting held on 2022-07-18, the CoC decided not to proceed with the issuance of Form-G (Expression of Interest) and instead recommended liquidation. The CoC determined that the Corporate Debtor had no
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The Corporate Insolvency Resolution Process…
The Applicant was appointed as the Interim…
The case pertains to an application filed by the Resolution Professional (RP) of Fashion Equation Pvt. Ltd. under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 28.04.2022. The RP was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided not to proceed with the issuance of Form-G (Expression of Interest) and instead recommended liquidation due to the Corporate Debtor having no assets and not being in operation for several years.
The Corporate Insolvency Resolution Process (CIRP) of Fashion Equation Pvt. Ltd. was initiated on 2022-04-28. The Resolution Professional (RP) was appointed as the Interim Resolution Professional (IRP). The first meeting of the Committee of Creditors (CoC) was held on 2022-05-30, where the asset position of the Corporate Debtor was discussed. The Corporate Debtor was reported to have no assets and certain receivables as of 2021-03-31. The RP did not appoint a valuer initially due to the lack of assets, but later the applicant appointed a financial valuer. In the third CoC meeting held on 2022-07-18, the CoC decided not to proceed with the issuance of Form-G (Expression of Interest) and instead recommended liquidation. The CoC determined that the Corporate Debtor had no
…The Corporate Insolvency Resolution Process…
The Applicant was appointed as the Interim…