The case pertains to IA(IBC)/1698(CHE)/2023 in CP(IB)/230/CHE/2022 filed under Section 33 of the Insolvency & Bankruptcy Code regarding M/s. Fipola retail (India) Private Limited. The Corporate Debtor, M/s. Fipola retail (India) Private Limited, was admitted into the Corporate Insolvency Resolution Process (CIRP) vide an order dated 02.05.2023. Ms Deepa Venkat Ramani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sudhir G.S. The Committee of Creditors (CoC) unanimously recommended the liquidation of the Corporate Debtor due to the lack of prospects for revival and the cost of continuing the CIRP outweighing the realizable amount from the assets.
M/s. Fipola retail (India) Private Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 2023-05-02. Ms. Deepa Venkat Ramani was appointed as the Interim Resolution Professional (IRP). Mr. Sudhir G.S. replaced Ms. Ramani as the Resolution Professional (RP) on 2023-06-15. The Committee of Creditors (CoC) was constituted on 2023-05-19. The 3rd CoC meeting held on 2023-08-23, unanimously recommended liquidation due to no prospects of revival and high CIRP costs. The 4th CoC meeting resolved to appoint Mr. Sankar Varadharajan as the liquidator. The RP expressed unwillingness to continue as liquidator. The RP submitted FORM-H as per IBBI regulations. There are no applications pending under section 43, section 45, and section 65 of IBC. The Adjudicating
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M/s. Fipola retail (India) Private Limited was…
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The case pertains to IA(IBC)/1698(CHE)/2023 in CP(IB)/230/CHE/2022 filed under Section 33 of the Insolvency & Bankruptcy Code regarding M/s. Fipola retail (India) Private Limited. The Corporate Debtor, M/s. Fipola retail (India) Private Limited, was admitted into the Corporate Insolvency Resolution Process (CIRP) vide an order dated 02.05.2023. Ms Deepa Venkat Ramani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sudhir G.S. The Committee of Creditors (CoC) unanimously recommended the liquidation of the Corporate Debtor due to the lack of prospects for revival and the cost of continuing the CIRP outweighing the realizable amount from the assets.
M/s. Fipola retail (India) Private Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 2023-05-02. Ms. Deepa Venkat Ramani was appointed as the Interim Resolution Professional (IRP). Mr. Sudhir G.S. replaced Ms. Ramani as the Resolution Professional (RP) on 2023-06-15. The Committee of Creditors (CoC) was constituted on 2023-05-19. The 3rd CoC meeting held on 2023-08-23, unanimously recommended liquidation due to no prospects of revival and high CIRP costs. The 4th CoC meeting resolved to appoint Mr. Sankar Varadharajan as the liquidator. The RP expressed unwillingness to continue as liquidator. The RP submitted FORM-H as per IBBI regulations. There are no applications pending under section 43, section 45, and section 65 of IBC. The Adjudicating
…M/s. Fipola retail (India) Private Limited was…
Publication of…