The case pertains to an application filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3)(B) of the IBBI Regulations, seeking the dissolution of the Corporate Debtor, Ila Metals Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Ila Metals Private Limited following an application under Section 9 of the Code by an Operational Creditor, Somani Multibiz Ltd. The Committee of Creditors (CoC) resolved to initiate liquidation due to the absence of assets. The liquidator, Rahul Nareshbhai Shah, was appointed and subsequently filed an application for the dissolution of the Corporate Debtor after completing the liquidation process.
Ila Metals Private Limited was incorporated on March 21, 2018. An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was filed by Somani Multibiz Ltd, an Operational Creditor, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The NCLT admitted the application on February 8, 2023, and appointed Mr. Shivkumar Baser as the Interim Resolution Professional (IRP). Due to the absence of assets, the Committee of Creditors (CoC) resolved to initiate liquidation on December 25, 2023. An order for liquidation was passed on July 8, 2024, and Rahul Nareshbhai Shah was appointed as the liquidator. The liquidator made a public announcement on July 10, 2024, inviting claims from stakeholders. A preliminary report was filed with the
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Ila Metals P…
The NCLT admitted the application filed under…
The case pertains to an application filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3)(B) of the IBBI Regulations, seeking the dissolution of the Corporate Debtor, Ila Metals Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Ila Metals Private Limited following an application under Section 9 of the Code by an Operational Creditor, Somani Multibiz Ltd. The Committee of Creditors (CoC) resolved to initiate liquidation due to the absence of assets. The liquidator, Rahul Nareshbhai Shah, was appointed and subsequently filed an application for the dissolution of the Corporate Debtor after completing the liquidation process.
Ila Metals Private Limited was incorporated on March 21, 2018. An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was filed by Somani Multibiz Ltd, an Operational Creditor, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The NCLT admitted the application on February 8, 2023, and appointed Mr. Shivkumar Baser as the Interim Resolution Professional (IRP). Due to the absence of assets, the Committee of Creditors (CoC) resolved to initiate liquidation on December 25, 2023. An order for liquidation was passed on July 8, 2024, and Rahul Nareshbhai Shah was appointed as the liquidator. The liquidator made a public announcement on July 10, 2024, inviting claims from stakeholders. A preliminary report was filed with the
…Ila Metals P…
The NCLT admitted the application filed under…