The case involves an application under Section 33(1)(a)(i) of the Insolvency and Bankruptcy Code, 2016, filed by Manavta Tradelink Private Limited (Financial Creditor) against Manikaran Vincom Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority admitted the Corporate Debtor into CIRP on October 20, 2023, and appointed Mr. Anal Basu as the Interim Resolution Professional. Public announcements were made, and the Committee of Creditors (CoC) was constituted. Despite efforts, no Resolution Plan was received, leading the CoC to resolve to submit an application for the initiation of Liquidation Process.
Manavta Tradelink Private Limited, a Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Manikaran Vincom Private Limited, the Corporate Debtor, to initiate CIRP. The Adjudicating Authority admitted the Corporate Debtor into CIRP on October 20, 2023, and appointed Mr. Anal Basu as the Interim Resolution Professional. Public announcements were made in newspapers, and the last date for submission of proof of claims by creditors was June 2, 2023. The Committee of Creditors (CoC) was constituted on November 11, 2023, and held its first meeting on November 18, 2023, approving the appointment of the Resolution Professional. Despite efforts, no Expression of Interest (EOI) was received from Prospective Resolution
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The case involves an application under Section 33(1)(a)(i) of the Insolvency and Bankruptcy Code, 2016, filed by Manavta Tradelink Private Limited (Financial Creditor) against Manikaran Vincom Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority admitted the Corporate Debtor into CIRP on October 20, 2023, and appointed Mr. Anal Basu as the Interim Resolution Professional. Public announcements were made, and the Committee of Creditors (CoC) was constituted. Despite efforts, no Resolution Plan was received, leading the CoC to resolve to submit an application for the initiation of Liquidation Process.
Manavta Tradelink Private Limited, a Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Manikaran Vincom Private Limited, the Corporate Debtor, to initiate CIRP. The Adjudicating Authority admitted the Corporate Debtor into CIRP on October 20, 2023, and appointed Mr. Anal Basu as the Interim Resolution Professional. Public announcements were made in newspapers, and the last date for submission of proof of claims by creditors was June 2, 2023. The Committee of Creditors (CoC) was constituted on November 11, 2023, and held its first meeting on November 18, 2023, approving the appointment of the Resolution Professional. Despite efforts, no Expression of Interest (EOI) was received from Prospective Resolution
…The Adjudicating Authority admitted the…
Public Announcements in…