The case pertains to an application filed under Section 33(1)(a), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, seeking liquidation of the Corporate Debtor, GFM Retail Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against GFM Retail Private Limited following an application filed by the Financial Creditor, Axis Trustee Services Limited, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated vide order dated 18.03.2024. The applicant was appointed as the Interim Resolution Professional (IRP).
Axis Trustee Services Limited, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against GFM Retail Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated on 18.03.2024. The applicant was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 16.04.2024. The Committee of Creditors (CoC) was constituted, with Axis Trustee Services Limited holding 93.72% of the voting share and MITCON Credentia Trusteeship Services Limited holding 6.28%. The applicant sought Expression of Interest (EOI) from prospective resolution applicants, with the last date for submission of the resolution plan being 26.07.2024. One EOI was received from Nakshatra Asset Ventures Limited, but
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Corporate Insolvency Resolution Process…
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The case pertains to an application filed under Section 33(1)(a), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, seeking liquidation of the Corporate Debtor, GFM Retail Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against GFM Retail Private Limited following an application filed by the Financial Creditor, Axis Trustee Services Limited, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated vide order dated 18.03.2024. The applicant was appointed as the Interim Resolution Professional (IRP).
Axis Trustee Services Limited, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against GFM Retail Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated on 18.03.2024. The applicant was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 16.04.2024. The Committee of Creditors (CoC) was constituted, with Axis Trustee Services Limited holding 93.72% of the voting share and MITCON Credentia Trusteeship Services Limited holding 6.28%. The applicant sought Expression of Interest (EOI) from prospective resolution applicants, with the last date for submission of the resolution plan being 26.07.2024. One EOI was received from Nakshatra Asset Ventures Limited, but
…Corporate Insolvency Resolution Process…
Public announ…