The case pertains to an application filed under Section 33(1)(a), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 and 32 of the NCLT Rules, 2016, seeking an order of liquidation against Millennium Soft Tech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2021-12-14 based on a Section 9 application. The Interim Resolution Professional (IRP) was appointed and made a public announcement on 2021-12-19. The Committee of Creditors (COC) was formed, including Indusind Bank, IDFC First Bank, and Calibre Consultants. Several COC meetings were held, and ultimately, the COC resolved to liquidate the Corporate Debtor with a 95.34% voting majority due to the lack of assets or relevant documents to continue as a
…The Corporate Insolvency Resolution Process (CIRP) of Millennium Soft Tech (India) Private Limited was initiated on 2021-12-14 following a Section 9 application. An Interim Resolution Professional (IRP) was appointed, who then made a public announcement on 2021-12-19. The Committee of Creditors (COC) was constituted, comprising Indusind Bank, IDFC First Bank, Calibre Consultants, and operational creditors. Several COC meetings took place. In the meeting held on 2022-04-19, a resolution was passed to file an application under Section 19 of the IBC, 2016, due to the unavailability of records. The fourth COC meeting on 2022-05-11 revealed the absence of assets or relevant documents, leading to the decision not to publish FORM-G. In the fifth COC meeting on 2022-08-23, a
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Corporate Insolvency…
Interim Resolution…
The case pertains to an application filed under Section 33(1)(a), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 and 32 of the NCLT Rules, 2016, seeking an order of liquidation against Millennium Soft Tech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2021-12-14 based on a Section 9 application. The Interim Resolution Professional (IRP) was appointed and made a public announcement on 2021-12-19. The Committee of Creditors (COC) was formed, including Indusind Bank, IDFC First Bank, and Calibre Consultants. Several COC meetings were held, and ultimately, the COC resolved to liquidate the Corporate Debtor with a 95.34% voting majority due to the lack of assets or relevant documents to continue as a
…The Corporate Insolvency Resolution Process (CIRP) of Millennium Soft Tech (India) Private Limited was initiated on 2021-12-14 following a Section 9 application. An Interim Resolution Professional (IRP) was appointed, who then made a public announcement on 2021-12-19. The Committee of Creditors (COC) was constituted, comprising Indusind Bank, IDFC First Bank, Calibre Consultants, and operational creditors. Several COC meetings took place. In the meeting held on 2022-04-19, a resolution was passed to file an application under Section 19 of the IBC, 2016, due to the unavailability of records. The fourth COC meeting on 2022-05-11 revealed the absence of assets or relevant documents, leading to the decision not to publish FORM-G. In the fifth COC meeting on 2022-08-23, a
…Corporate Insolvency…
Interim Resolution…