M/s. Meenakshi Cargo Forwarders Private Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 10.07.2023. Mr. R.Thamodharan was appointed as the Interim Resolution Professional (IRP). Several Committee of Creditors (CoC) meetings were held. The sub-committee constituted in the 1st CoC meeting reported that the erstwhile management refused to provide necessary details, hindering the analysis of the CD's affairs. The RP presented the Information Memorandum to the CoC, but the CoC decided against continuing the business as a going concern. During the 3rd CoC meeting, the audited financial statements for FY 2022-2023 were discussed, revealing a negative net worth. The CoC decided not to invite any resolution plan and preferred moving for liquidation.

M/s. Meenakshi Cargo Forwarders Private Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 10.07.2023. Mr. R.Thamodharan was appointed as the Interim Resolution Professional (IRP). Several Committee of Creditors (CoC) meetings were held. The sub-committee constituted in the 1st CoC meeting reported that the erstwhile management refused to provide necessary details, hindering the analysis of the CD's affairs. The RP presented the Information Memorandum to the CoC, but the CoC decided against continuing the business as a going concern. During the 3rd CoC meeting, the audited financial statements for FY 2022-2023 were discussed, revealing a negative net worth. The CoC decided not to invite any resolution plan and preferred moving for liquidation.