The case involves an application (I.A. No. 2663/2021) filed by the Resolution Professional, Ms. Akansha Ashish Rathi, seeking liquidation of Madhur Nourishment Products LLP (the Corporate Debtor) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Shivkumar Suppliers, an Operational Creditor. The Committee of Creditors (CoC) was formed, with Canara Bank being the sole Financial Creditor holding 100% voting share. Several meetings of the CoC were held to explore resolution options, including the appointment of a Transaction Auditor and Registered Valuers. However, no resolution plan was received within the CIRP period.
The Resolution Professional, Ms. Akansha Ashish Rathi, filed an application seeking liquidation of Madhur Nourishment Products LLP (Corporate Debtor) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated following a petition by Shivkumar Suppliers (Operational Creditor). Canara Bank was the sole Financial Creditor with 100% voting share in the Committee of Creditors (CoC). Several CoC meetings were held, including the appointment of a Transaction Auditor (M/s R.G. Gandhi & Co.) and Registered Valuers. The Transaction Auditor's report, dated 04.08.2021, covered the period from 1st April 2017 to 20th February 2020. Despite efforts, no resolution plan was received. The CoC approved the liquidation of the Corporate Debtor. The
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The Tribunal admitted the petition filed under…
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The case involves an application (I.A. No. 2663/2021) filed by the Resolution Professional, Ms. Akansha Ashish Rathi, seeking liquidation of Madhur Nourishment Products LLP (the Corporate Debtor) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Shivkumar Suppliers, an Operational Creditor. The Committee of Creditors (CoC) was formed, with Canara Bank being the sole Financial Creditor holding 100% voting share. Several meetings of the CoC were held to explore resolution options, including the appointment of a Transaction Auditor and Registered Valuers. However, no resolution plan was received within the CIRP period.
The Resolution Professional, Ms. Akansha Ashish Rathi, filed an application seeking liquidation of Madhur Nourishment Products LLP (Corporate Debtor) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated following a petition by Shivkumar Suppliers (Operational Creditor). Canara Bank was the sole Financial Creditor with 100% voting share in the Committee of Creditors (CoC). Several CoC meetings were held, including the appointment of a Transaction Auditor (M/s R.G. Gandhi & Co.) and Registered Valuers. The Transaction Auditor's report, dated 04.08.2021, covered the period from 1st April 2017 to 20th February 2020. Despite efforts, no resolution plan was received. The CoC approved the liquidation of the Corporate Debtor. The
…The Tribunal admitted the petition filed under…
The IRP published a…