The case pertains to an application seeking liquidation of the Corporate Debtor, Mithila Cars Pvt Ltd. The CIRP was admitted on 2021-04-30. Following the admission, a public announcement was made by the IRP on 2021-05-06. The CoC was constituted, and its constitution was certified. The first CoC meeting occurred on 2021-06-04, where the IRP was confirmed as RP. The CoC appointed a Transaction Auditor and two registered valuers to determine fair value and liquidation value. The applicant published Form-G for invitation of Expression of Interest on 2021-07-08. The CoC convened its 4th meeting on 2021-09-09, where the provisional and final lists of PRAs were discussed. Only one eligible PRA, M/S Kundan Care Private Limited, was identified, who sought an extension for
…The Corporate Debtor, Mithila Cars Pvt Ltd, underwent CIRP, which was admitted on 2021-04-30. A public announcement was made on 2021-05-06. The CoC was formed, and its first meeting was held on 2021-06-04, confirming the IRP as RP. The CoC appointed a Transaction Auditor and valuers. Form-G was published on 2021-07-08. The 4th CoC meeting on 2021-09-09 revealed only one eligible PRA, M/S Kundan Care Private Limited, who requested an extension until 2021-09-20 for submitting a resolution plan, which the CoC denied. The CoC then decided to initiate liquidation, resolving to do so on 2021-10-22. The financial creditors include ASREC (India) Ltd. with a claim and admitted amount of INR 39,04,92,641 and State Bank of India with a claim and admitted amount of INR
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Order of admission of…
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The case pertains to an application seeking liquidation of the Corporate Debtor, Mithila Cars Pvt Ltd. The CIRP was admitted on 2021-04-30. Following the admission, a public announcement was made by the IRP on 2021-05-06. The CoC was constituted, and its constitution was certified. The first CoC meeting occurred on 2021-06-04, where the IRP was confirmed as RP. The CoC appointed a Transaction Auditor and two registered valuers to determine fair value and liquidation value. The applicant published Form-G for invitation of Expression of Interest on 2021-07-08. The CoC convened its 4th meeting on 2021-09-09, where the provisional and final lists of PRAs were discussed. Only one eligible PRA, M/S Kundan Care Private Limited, was identified, who sought an extension for
…The Corporate Debtor, Mithila Cars Pvt Ltd, underwent CIRP, which was admitted on 2021-04-30. A public announcement was made on 2021-05-06. The CoC was formed, and its first meeting was held on 2021-06-04, confirming the IRP as RP. The CoC appointed a Transaction Auditor and valuers. Form-G was published on 2021-07-08. The 4th CoC meeting on 2021-09-09 revealed only one eligible PRA, M/S Kundan Care Private Limited, who requested an extension until 2021-09-20 for submitting a resolution plan, which the CoC denied. The CoC then decided to initiate liquidation, resolving to do so on 2021-10-22. The financial creditors include ASREC (India) Ltd. with a claim and admitted amount of INR 39,04,92,641 and State Bank of India with a claim and admitted amount of INR
…Order of admission of…
Public announcement was…