The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, by Mr. Anil Seetaram Vaidya, the Resolution Professional (RP) of Majestic Market Research Support Services Limited (the Corporate Debtor), seeking a liquidation order. The application was based on a resolution passed by the Committee of Creditors (CoC) in its 11th meeting held on 24.03.2023. The Corporate Insolvency Resolution Process (CIRP) was initiated on 17.12.2019, and Mr. Dhiren Shah was appointed as the Interim Resolution Professional (IRP). The IRP published a public announcement inviting claims from creditors, and a CoC was constituted. However, the IRP could not take control of the Corporate Debtor's assets due to non-cooperation from the suspended
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Majestic Market Research Support Services Limited on 17.12.2019. Mr. Dhiren Shah was appointed as the Interim Resolution Professional (IRP). The IRP published Form A inviting claims from creditors, and a Committee of Creditors (CoC) was constituted. The IRP could not take control of the Corporate Debtor's assets due to non-cooperation from the suspended directors. Registered valuers were appointed, but the valuation was kept in abeyance. Expressions of Interest (EoI) were invited, but none were received. The CoC resolved to replace the IRP with Mr. Anil Seetaram Vaidya. An application for exclusion of the CIRP period from 25.03.2020 to 31.10.2020 was filed due to the Covid-19 pandemic, and an
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Corporate Insolvency Resolution Process (CIRP)…
Mr. Dhiren Shah…
The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, by Mr. Anil Seetaram Vaidya, the Resolution Professional (RP) of Majestic Market Research Support Services Limited (the Corporate Debtor), seeking a liquidation order. The application was based on a resolution passed by the Committee of Creditors (CoC) in its 11th meeting held on 24.03.2023. The Corporate Insolvency Resolution Process (CIRP) was initiated on 17.12.2019, and Mr. Dhiren Shah was appointed as the Interim Resolution Professional (IRP). The IRP published a public announcement inviting claims from creditors, and a CoC was constituted. However, the IRP could not take control of the Corporate Debtor's assets due to non-cooperation from the suspended
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Majestic Market Research Support Services Limited on 17.12.2019. Mr. Dhiren Shah was appointed as the Interim Resolution Professional (IRP). The IRP published Form A inviting claims from creditors, and a Committee of Creditors (CoC) was constituted. The IRP could not take control of the Corporate Debtor's assets due to non-cooperation from the suspended directors. Registered valuers were appointed, but the valuation was kept in abeyance. Expressions of Interest (EoI) were invited, but none were received. The CoC resolved to replace the IRP with Mr. Anil Seetaram Vaidya. An application for exclusion of the CIRP period from 25.03.2020 to 31.10.2020 was filed due to the Covid-19 pandemic, and an
…Corporate Insolvency Resolution Process (CIRP)…
Mr. Dhiren Shah…