The case pertains to an application filed by Maurya Manpower Services Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against itself. The company, incorporated on May 29, 1997, is engaged in the business of manpower supply. It claims to be commercially insolvent and unable to revive its business. The company's financial position as of February 31, 2021, shows significant liabilities exceeding its assets. The application was filed due to the company's inability to pay its debts, including statutory dues, employee dues, and other liabilities.
Maurya Manpower Services Private Limited, incorporated on May 29, 1997, is engaged in manpower supply. The company filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against itself. As of February 31, 2021, the company's financial position showed a negative net worth, with liabilities exceeding assets. The company's paid-up share capital was Rs. 1,02,500.00, while its reserves and surplus were negative (Rs. 1,21,80,746.00). The company's liabilities included statutory dues of Rs. 1,23,02,944.00 and employee dues of Rs. 1,45,04,908.00. The company's assets included non-current investments of Rs. 55,32,000.00 and long-term loans and advances of Rs. 15,00,000.00. A major factor contributing to the company's losses
…Sign in to view the parties.
Maurya Manpower…
Board Resolution authorized Managing…
The case pertains to an application filed by Maurya Manpower Services Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against itself. The company, incorporated on May 29, 1997, is engaged in the business of manpower supply. It claims to be commercially insolvent and unable to revive its business. The company's financial position as of February 31, 2021, shows significant liabilities exceeding its assets. The application was filed due to the company's inability to pay its debts, including statutory dues, employee dues, and other liabilities.
Maurya Manpower Services Private Limited, incorporated on May 29, 1997, is engaged in manpower supply. The company filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against itself. As of February 31, 2021, the company's financial position showed a negative net worth, with liabilities exceeding assets. The company's paid-up share capital was Rs. 1,02,500.00, while its reserves and surplus were negative (Rs. 1,21,80,746.00). The company's liabilities included statutory dues of Rs. 1,23,02,944.00 and employee dues of Rs. 1,45,04,908.00. The company's assets included non-current investments of Rs. 55,32,000.00 and long-term loans and advances of Rs. 15,00,000.00. A major factor contributing to the company's losses
…Maurya Manpower…
Board Resolution authorized Managing…