The case involves an application (IA(IBC)/1121(KB)2022) filed under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the Resolution Professional (RP) of Lindsay International Private Limited, the Corporate Debtor, seeking liquidation. The Corporate Insolvency Resolution Process (CIRP) was initiated against Lindsay International Private Limited based on a petition filed by Gates India Private Limited, the Operational Creditor, under Section 9 of the IBC. Mr. Milan Sachindra Nath Chatterjee was appointed as the Interim Resolution Professional (IRP) and later as the RP. Public announcements were made inviting claims from creditors, and a Committee of Creditors (CoC) was formed with M/s. Aurangabad Metal Products Private Limited as the sole member.
Gates India Private Limited, an Operational Creditor, initiated CIRP against Lindsay International Private Limited (Corporate Debtor) under Section 9 of the IBC. Mr. Milan Sachindra Nath Chatterjee was appointed as the IRP and later as the RP. The CoC, consisting of a sole member (M/s. Aurangabad Metal Products Private Limited), decided to liquidate the Corporate Debtor directly due to a lack of substantial assets. The CoC believed that pursuing a resolution plan would be a waste of resources. The 180-day CIRP period expired on 2022-12-25 without any resolution plan. The RP filed an application (IA(IBC)/1121(KB)2022) seeking liquidation under Section 33 of the IBC. The RP stated he had given his consent to act as Liquidator but did not annex the consent letter to the
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The Adjudicating Authority ordered the…
Public announcements were made in 'Financial…
The case involves an application (IA(IBC)/1121(KB)2022) filed under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the Resolution Professional (RP) of Lindsay International Private Limited, the Corporate Debtor, seeking liquidation. The Corporate Insolvency Resolution Process (CIRP) was initiated against Lindsay International Private Limited based on a petition filed by Gates India Private Limited, the Operational Creditor, under Section 9 of the IBC. Mr. Milan Sachindra Nath Chatterjee was appointed as the Interim Resolution Professional (IRP) and later as the RP. Public announcements were made inviting claims from creditors, and a Committee of Creditors (CoC) was formed with M/s. Aurangabad Metal Products Private Limited as the sole member.
Gates India Private Limited, an Operational Creditor, initiated CIRP against Lindsay International Private Limited (Corporate Debtor) under Section 9 of the IBC. Mr. Milan Sachindra Nath Chatterjee was appointed as the IRP and later as the RP. The CoC, consisting of a sole member (M/s. Aurangabad Metal Products Private Limited), decided to liquidate the Corporate Debtor directly due to a lack of substantial assets. The CoC believed that pursuing a resolution plan would be a waste of resources. The 180-day CIRP period expired on 2022-12-25 without any resolution plan. The RP filed an application (IA(IBC)/1121(KB)2022) seeking liquidation under Section 33 of the IBC. The RP stated he had given his consent to act as Liquidator but did not annex the consent letter to the
…The Adjudicating Authority ordered the…
Public announcements were made in 'Financial…