The case pertains to an application filed by the Resolution Professional, Mr. Bhaskar Gopalshetty, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, MIRAGE CERAMICS PRIVATE LIMITED. The CIRP was initiated on February 14, 2020. The IRP took control of the Corporate Debtor and formed a Committee of Creditors (COC) on March 11, 2020. Despite multiple invitations for resolution plans, only one plan was submitted and subsequently rejected by the COC. The COC then decided to proceed with liquidation.
The Corporate Insolvency Resolution Process (CIRP) for MIRAGE CERAMICS PRIVATE LIMITED was initiated on February 14, 2020. Mr. Bhaskar Gopalshetty was appointed as the Interim Resolution Professional (IRP). The IRP formed a Committee of Creditors (COC) on March 11, 2020, with members including Kamlesh Mehta (56.86% voting rights), Abhyudaya Co-op Bank Ltd. (43.14% voting rights), and the Deputy Commissioner of State Tax, Mumbai (0% voting rights). Abhyudaya Bank assigned its loan to Asrec (India) Ltd. on August 26, 2020, leading to reconstitution of the COC. Valuers were appointed, and valuation reports were obtained for the assets of the Corporate Debtor. Multiple invitations for resolution plans were issued, but only one resolution plan was submitted by Kamlesh Mehta
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Corporate Insolvency Resolution Process…
Committee of C…
The case pertains to an application filed by the Resolution Professional, Mr. Bhaskar Gopalshetty, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, MIRAGE CERAMICS PRIVATE LIMITED. The CIRP was initiated on February 14, 2020. The IRP took control of the Corporate Debtor and formed a Committee of Creditors (COC) on March 11, 2020. Despite multiple invitations for resolution plans, only one plan was submitted and subsequently rejected by the COC. The COC then decided to proceed with liquidation.
The Corporate Insolvency Resolution Process (CIRP) for MIRAGE CERAMICS PRIVATE LIMITED was initiated on February 14, 2020. Mr. Bhaskar Gopalshetty was appointed as the Interim Resolution Professional (IRP). The IRP formed a Committee of Creditors (COC) on March 11, 2020, with members including Kamlesh Mehta (56.86% voting rights), Abhyudaya Co-op Bank Ltd. (43.14% voting rights), and the Deputy Commissioner of State Tax, Mumbai (0% voting rights). Abhyudaya Bank assigned its loan to Asrec (India) Ltd. on August 26, 2020, leading to reconstitution of the COC. Valuers were appointed, and valuation reports were obtained for the assets of the Corporate Debtor. Multiple invitations for resolution plans were issued, but only one resolution plan was submitted by Kamlesh Mehta
…Corporate Insolvency Resolution Process…
Committee of C…