The case involves Hyflux Engineering India Private Limited, which was admitted into CIRP on 2024-04-18. The IRP, Mr. T. Ranganathan, was appointed and invited claims from creditors. The IRP constituted a CoC with two related-party Operational Creditors. The CoC recommended liquidation of the Corporate Debtor. The suspended director, Mr. T.K. Sudhakaran, filed an application (IA(IBC)/458/2025) seeking impleadment, alleging the IRP did not make efforts to issue Form-G and raised concerns about the non-constitution of the CoC. The Tribunal dismissed an earlier application (IA/2055/2024) due to the lack of a constituted CoC. The IRP also filed an application under Section 19(2) of IBC, which was disposed of. The Tribunal directed the IRP to constitute the CoC with
…Hyflux Engineering India Private Limited was admitted into CIRP on 2024-04-18 following a petition under Section 10 of IBC, 2016. Mr. T. Ranganathan was appointed as the IRP. The IRP invited claims from creditors, and the last date for submission was 2024-05-02. The IRP opened an account with IDBI Bank on 2024-05-19. The IRP received two claims from related-party Operational Creditors, Hyflux Limited and Hyflux Membrane Manufacturing (S) Pte. Limited, but these creditors did not furnish essential details. The IRP provisionally admitted claims based on figures furnished by SBoD. The IRP constituted a CoC with two related-party Operational Creditors, holding 14.52% and 85.48% voting shares, respectively, for a total amount of Rs. 19,54,90,065.47. The first CoC meeting
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Hyflux Engineering…
IRP made a pub…
The case involves Hyflux Engineering India Private Limited, which was admitted into CIRP on 2024-04-18. The IRP, Mr. T. Ranganathan, was appointed and invited claims from creditors. The IRP constituted a CoC with two related-party Operational Creditors. The CoC recommended liquidation of the Corporate Debtor. The suspended director, Mr. T.K. Sudhakaran, filed an application (IA(IBC)/458/2025) seeking impleadment, alleging the IRP did not make efforts to issue Form-G and raised concerns about the non-constitution of the CoC. The Tribunal dismissed an earlier application (IA/2055/2024) due to the lack of a constituted CoC. The IRP also filed an application under Section 19(2) of IBC, which was disposed of. The Tribunal directed the IRP to constitute the CoC with
…Hyflux Engineering India Private Limited was admitted into CIRP on 2024-04-18 following a petition under Section 10 of IBC, 2016. Mr. T. Ranganathan was appointed as the IRP. The IRP invited claims from creditors, and the last date for submission was 2024-05-02. The IRP opened an account with IDBI Bank on 2024-05-19. The IRP received two claims from related-party Operational Creditors, Hyflux Limited and Hyflux Membrane Manufacturing (S) Pte. Limited, but these creditors did not furnish essential details. The IRP provisionally admitted claims based on figures furnished by SBoD. The IRP constituted a CoC with two related-party Operational Creditors, holding 14.52% and 85.48% voting shares, respectively, for a total amount of Rs. 19,54,90,065.47. The first CoC meeting
…Hyflux Engineering…
IRP made a pub…