The case involves an application (IA-1011/2022) where the Applicant/RP submitted that in response to the publication of Form-G, two parties expressed interest in the revival of the Corporate Debtor (CD), but no concrete plan or proposal was received. The CoC passed a resolution on 24.01.2022 with a 100% voting share to order the liquidation of the CD. The CIRP had commenced on 03.08.2021, and more than 330 days had passed since then.
M/s. Candy Enterprises Private Limited initiated a corporate insolvency resolution process (CIRP). Form-G was published, inviting resolution plans for the revival of the Corporate Debtor (CD). Two parties expressed interest, but no concrete resolution plan was submitted. The Committee of Creditors (CoC) passed a resolution on 24.01.2022 with 100% voting share to liquidate the CD. The CIRP commenced on 03.08.2021, and more than 330 days have passed. Mr. Anil Tayal consented to act as the Liquidator. The CD is now ordered to be liquidated under the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.
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Corporate Insolvency…
Committee of Creditors (CoC) passed a…
The case involves an application (IA-1011/2022) where the Applicant/RP submitted that in response to the publication of Form-G, two parties expressed interest in the revival of the Corporate Debtor (CD), but no concrete plan or proposal was received. The CoC passed a resolution on 24.01.2022 with a 100% voting share to order the liquidation of the CD. The CIRP had commenced on 03.08.2021, and more than 330 days had passed since then.
M/s. Candy Enterprises Private Limited initiated a corporate insolvency resolution process (CIRP). Form-G was published, inviting resolution plans for the revival of the Corporate Debtor (CD). Two parties expressed interest, but no concrete resolution plan was submitted. The Committee of Creditors (CoC) passed a resolution on 24.01.2022 with 100% voting share to liquidate the CD. The CIRP commenced on 03.08.2021, and more than 330 days have passed. Mr. Anil Tayal consented to act as the Liquidator. The CD is now ordered to be liquidated under the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.
Corporate Insolvency…
Committee of Creditors (CoC) passed a…