The case originates from an application filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The application was filed by the Liquidator of M.M Agro Venture Pvt Ltd, seeking the dissolution of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on March 18, 2021, and Mr. Sonu Jain was appointed as the Interim Resolution Professional, later confirmed as Resolution Professional. Subsequently, Smt. Sonu Jain was appointed as the Liquidator of the Corporate Debtor on May 5, 2022.
Union Bank of India is the Financial Creditor. M.M Agro Venture Pvt Ltd is the Corporate Debtor. On March 18, 2021, the Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP). Mr. Sonu Jain was appointed as Interim Resolution Professional and later confirmed as Resolution Professional. On May 5, 2022, Smt. Sonu Jain was appointed as the Liquidator of the Corporate Debtor. The Liquidator made a public announcement on April 20, 2023, and the auction was successfully held on September 14, 2023. The Liquidator made payments to the Financial Creditor on December 22, 2023 (Rs. 85,38,000), December 26, 2023 (Rs. 7,06,863), and January 2, 2024 (Rs. 20,00,000). The Liquidator filed an application under Section 54(1) of the Insolvency and Bankruptcy
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The Corporate Debtor…
Mr. Sonu Jain was…
The case originates from an application filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The application was filed by the Liquidator of M.M Agro Venture Pvt Ltd, seeking the dissolution of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on March 18, 2021, and Mr. Sonu Jain was appointed as the Interim Resolution Professional, later confirmed as Resolution Professional. Subsequently, Smt. Sonu Jain was appointed as the Liquidator of the Corporate Debtor on May 5, 2022.
Union Bank of India is the Financial Creditor. M.M Agro Venture Pvt Ltd is the Corporate Debtor. On March 18, 2021, the Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP). Mr. Sonu Jain was appointed as Interim Resolution Professional and later confirmed as Resolution Professional. On May 5, 2022, Smt. Sonu Jain was appointed as the Liquidator of the Corporate Debtor. The Liquidator made a public announcement on April 20, 2023, and the auction was successfully held on September 14, 2023. The Liquidator made payments to the Financial Creditor on December 22, 2023 (Rs. 85,38,000), December 26, 2023 (Rs. 7,06,863), and January 2, 2024 (Rs. 20,00,000). The Liquidator filed an application under Section 54(1) of the Insolvency and Bankruptcy
…The Corporate Debtor…
Mr. Sonu Jain was…