The case involves an application filed by the Resolution Professional (RP) of Maestria Paints India Private Limited, the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC). The RP sought liquidation of the Corporate Debtor and appointment of the RP as the liquidator. The Adjudicating Authority had previously admitted a Company Petition filed by Maestria Paints India Private Limited under Section 10 of the IBC and initiated the Corporate Insolvency Resolution Process (CIRP). The applicant was appointed as Interim Resolution Professional and later confirmed as Resolution Professional after the first Committee of Creditors (COC) meeting.
Maestria Paints India Private Limited underwent Corporate Insolvency Resolution Process (CIRP) after a Company Petition was admitted by the Adjudicating Authority. The Resolution Professional (RP) issued a public announcement inviting claims from creditors. Claims were received from both financial and operational creditors, including Sri Kantam Anasuya, Employees State Insurance Corporation, Mr. Hansaram Chowdhary, Mr. Uttam Choudhary, VL Sharada, and RD V Prasad. The Committee of Creditors (COC) decided in its 3rd meeting to liquidate the Corporate Debtor with 100% voting, citing the absence of a resolution plan. The RP then filed an application seeking liquidation and appointment as liquidator. The COC proposed Mr. Malireddy Ramana Reddy as liquidator, but his name
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Company Petition…
Adjudicating Authority admitted the Company…
The case involves an application filed by the Resolution Professional (RP) of Maestria Paints India Private Limited, the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC). The RP sought liquidation of the Corporate Debtor and appointment of the RP as the liquidator. The Adjudicating Authority had previously admitted a Company Petition filed by Maestria Paints India Private Limited under Section 10 of the IBC and initiated the Corporate Insolvency Resolution Process (CIRP). The applicant was appointed as Interim Resolution Professional and later confirmed as Resolution Professional after the first Committee of Creditors (COC) meeting.
Maestria Paints India Private Limited underwent Corporate Insolvency Resolution Process (CIRP) after a Company Petition was admitted by the Adjudicating Authority. The Resolution Professional (RP) issued a public announcement inviting claims from creditors. Claims were received from both financial and operational creditors, including Sri Kantam Anasuya, Employees State Insurance Corporation, Mr. Hansaram Chowdhary, Mr. Uttam Choudhary, VL Sharada, and RD V Prasad. The Committee of Creditors (COC) decided in its 3rd meeting to liquidate the Corporate Debtor with 100% voting, citing the absence of a resolution plan. The RP then filed an application seeking liquidation and appointment as liquidator. The COC proposed Mr. Malireddy Ramana Reddy as liquidator, but his name
…Company Petition…
Adjudicating Authority admitted the Company…