The application was filed under Section 54(2) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India [Liquidation Process] Regulations, 2016, by the Liquidator of M/s Incom Wires and Cables Ltd., the Corporate Debtor. The Adjudicating Authority admitted the Corporate Debtor under the Corporate Insolvency Resolution Process (CIRP) on 03.01.2020. As no resolution could be arrived at, the Applicant filed an application for approval of Liquidation of the Corporate Debtor, which was allowed on 19.01.2021. Public announcement of commencement of liquidation was made on 24.01.2021. The Liquidator also intimated the Registrar of Companies about the initiation of Liquidation proceedings. The Liquidator convened
…M/s Incom Wires & Cables Ltd. was admitted into Corporate Insolvency Resolution Process (CIRP) by the Adjudicating Authority on 03.01.2020. As no resolution plan was approved, the company was ordered into liquidation on 19.01.2021. M/s Syndicate Bank was the petitioner. Rakesh Kumar Jain was appointed as the liquidator. The liquidator made a public announcement on 24.01.2021. The liquidator intimated the Registrar of Companies about the liquidation proceedings. The liquidator convened Stakeholder Consultation Committee (SCC) meetings and filed quarterly reports. The liquidator opened a new bank account for the corporate debtor. The liquidator sought extensions of time for the liquidation process due to the lockdown in Delhi. The fair value of the corporate debtor
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The Adjudicating Authority admitted the…
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The application was filed under Section 54(2) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India [Liquidation Process] Regulations, 2016, by the Liquidator of M/s Incom Wires and Cables Ltd., the Corporate Debtor. The Adjudicating Authority admitted the Corporate Debtor under the Corporate Insolvency Resolution Process (CIRP) on 03.01.2020. As no resolution could be arrived at, the Applicant filed an application for approval of Liquidation of the Corporate Debtor, which was allowed on 19.01.2021. Public announcement of commencement of liquidation was made on 24.01.2021. The Liquidator also intimated the Registrar of Companies about the initiation of Liquidation proceedings. The Liquidator convened
…M/s Incom Wires & Cables Ltd. was admitted into Corporate Insolvency Resolution Process (CIRP) by the Adjudicating Authority on 03.01.2020. As no resolution plan was approved, the company was ordered into liquidation on 19.01.2021. M/s Syndicate Bank was the petitioner. Rakesh Kumar Jain was appointed as the liquidator. The liquidator made a public announcement on 24.01.2021. The liquidator intimated the Registrar of Companies about the liquidation proceedings. The liquidator convened Stakeholder Consultation Committee (SCC) meetings and filed quarterly reports. The liquidator opened a new bank account for the corporate debtor. The liquidator sought extensions of time for the liquidation process due to the lockdown in Delhi. The fair value of the corporate debtor
…The Adjudicating Authority admitted the…
The Adjudicating Authority allowed the…