The case pertains to a petition filed under Section 54C of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Pre-Packaged Insolvency Resolution Process) Rules, 2021, seeking initiation of the Pre-Packed Insolvency Resolution Process (PPIRP) for G-Security (India) Private Limited. The Corporate Debtor is a private limited company incorporated on 27.12.2004 with an authorized and paid-up share capital of INR 25,00,000/- each. The Corporate Debtor is under a default of Rs. 15,00,000/- owed to two unrelated financial creditors: Dr. Chandramani Tiwari (Rs. 12,00,000/-) and Mr. Ajay Kumar Mishra (Rs. 3,00,000/-). The petition was filed to initiate PPIRP under Chapter III-A of the Code.
G-Security (India) Private Limited, a private limited company incorporated on 27.12.2004, filed a petition under Section 54C of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Pre-Packaged Insolvency Resolution Process (PPIRP). The company's authorized and paid-up share capital is INR 25,00,000/- each. The Corporate Debtor is under a default of Rs. 15,00,000/- owed to two unrelated financial creditors: Dr. Chandramani Tiwari (Rs. 12,00,000/-) and Mr. Ajay Kumar Mishra (Rs. 3,00,000/-). The Petitioner submitted a Base Resolution Plan, which includes details of PPIRP costs (Rs. 10.00 Lakhs), proposed settlement with financial and operational creditors, and a contingency fund (Rs. 2.00 Lakhs). The CoC consists of Dr. Chandramani Tiwari and Mr. Ajay Kumar
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G-Security (India)…
The Corporate Debtor's UDYAM (Udyog Aadhar…
The case pertains to a petition filed under Section 54C of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Pre-Packaged Insolvency Resolution Process) Rules, 2021, seeking initiation of the Pre-Packed Insolvency Resolution Process (PPIRP) for G-Security (India) Private Limited. The Corporate Debtor is a private limited company incorporated on 27.12.2004 with an authorized and paid-up share capital of INR 25,00,000/- each. The Corporate Debtor is under a default of Rs. 15,00,000/- owed to two unrelated financial creditors: Dr. Chandramani Tiwari (Rs. 12,00,000/-) and Mr. Ajay Kumar Mishra (Rs. 3,00,000/-). The petition was filed to initiate PPIRP under Chapter III-A of the Code.
G-Security (India) Private Limited, a private limited company incorporated on 27.12.2004, filed a petition under Section 54C of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Pre-Packaged Insolvency Resolution Process (PPIRP). The company's authorized and paid-up share capital is INR 25,00,000/- each. The Corporate Debtor is under a default of Rs. 15,00,000/- owed to two unrelated financial creditors: Dr. Chandramani Tiwari (Rs. 12,00,000/-) and Mr. Ajay Kumar Mishra (Rs. 3,00,000/-). The Petitioner submitted a Base Resolution Plan, which includes details of PPIRP costs (Rs. 10.00 Lakhs), proposed settlement with financial and operational creditors, and a contingency fund (Rs. 2.00 Lakhs). The CoC consists of Dr. Chandramani Tiwari and Mr. Ajay Kumar
…G-Security (India)…
The Corporate Debtor's UDYAM (Udyog Aadhar…