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 the Corporate Debtor, Millennium Soft Tech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on December 14, 2021, following a Section 9 application. The Interim Resolution Professional (IRP) was appointed and made a public announcement on December 19, 2021. The Committee of Creditors (COC) was constituted, including Indusind Bank, IDFC First Bank, and Calibre Consultants, along with operational creditors. Several COC meetings were held, where the resolution to liquidate the Corporate Debtor was passed with a 95.34% voting
…The Corporate Insolvency Resolution Process (CIRP) of Millennium Soft Tech Private Limited was initiated on December 14, 2021, following a Section 9 application. An Interim Resolution Professional (IRP) was appointed, who made a public announcement on December 19, 2021. The Committee of Creditors (COC) was formed, comprising Indusind Bank, IDFC First Bank, Calibre Consultants, and operational creditors. The COC held several meetings. In the fourth COC meeting on May 11, 2022, it was noted that no assets or relevant documents were available. In the fifth COC meeting on August 23, 2022, a resolution was passed with 95.34% voting majority to liquidate the Corporate Debtor due to the absence of assets and the inability to run the company as a going concern. The Resolution
…Sign in to view the parties.
Corporate Insolvency Resolution Process…
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 the Corporate Debtor, Millennium Soft Tech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on December 14, 2021, following a Section 9 application. The Interim Resolution Professional (IRP) was appointed and made a public announcement on December 19, 2021. The Committee of Creditors (COC) was constituted, including Indusind Bank, IDFC First Bank, and Calibre Consultants, along with operational creditors. Several COC meetings were held, where the resolution to liquidate the Corporate Debtor was passed with a 95.34% voting
…The Corporate Insolvency Resolution Process (CIRP) of Millennium Soft Tech Private Limited was initiated on December 14, 2021, following a Section 9 application. An Interim Resolution Professional (IRP) was appointed, who made a public announcement on December 19, 2021. The Committee of Creditors (COC) was formed, comprising Indusind Bank, IDFC First Bank, Calibre Consultants, and operational creditors. The COC held several meetings. In the fourth COC meeting on May 11, 2022, it was noted that no assets or relevant documents were available. In the fifth COC meeting on August 23, 2022, a resolution was passed with 95.34% voting majority to liquidate the Corporate Debtor due to the absence of assets and the inability to run the company as a going concern. The Resolution
…Corporate Insolvency Resolution Process…
Interim Resolution…