The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, M/s. MPL Motors Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 7 of the I&B Code, 2016, by a Financial Creditor, which was admitted by the Adjudicating Authority on 20.11.2020. The applicant, Mr. A. Mohan Kumar, was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional. Public announcements were made, and a Committee of Creditors (CoC) was constituted. The CoC, after considering the absence of a viable ongoing business, resolved to liquidate the Corporate Debtor.
M/s. MPL Motors Private Limited is the Corporate Debtor. An application under Section 7 of the I&B Code, 2016, was filed by a Financial Creditor, leading to the initiation of the CIRP. Mr. A. Mohan Kumar was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. Public announcements were made in Tamil and English dailies. The Committee of Creditors (CoC) was constituted, and its first meeting was held on 26.12.2020. The Corporate Debtor had no employees or business at the commencement of CIRP. The CoC, in its second meeting on 15.04.2021, resolved to liquidate the Corporate Debtor due to the absence of a viable ongoing business and the lack of a resolution plan. The CoC approved the appointment of A. Mohan Kumar as the
…Sign in to view the parties.
Originally IBA/901/2019…
Adjudicating Authority admitted the…
The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, M/s. MPL Motors Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 7 of the I&B Code, 2016, by a Financial Creditor, which was admitted by the Adjudicating Authority on 20.11.2020. The applicant, Mr. A. Mohan Kumar, was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional. Public announcements were made, and a Committee of Creditors (CoC) was constituted. The CoC, after considering the absence of a viable ongoing business, resolved to liquidate the Corporate Debtor.
M/s. MPL Motors Private Limited is the Corporate Debtor. An application under Section 7 of the I&B Code, 2016, was filed by a Financial Creditor, leading to the initiation of the CIRP. Mr. A. Mohan Kumar was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional. Public announcements were made in Tamil and English dailies. The Committee of Creditors (CoC) was constituted, and its first meeting was held on 26.12.2020. The Corporate Debtor had no employees or business at the commencement of CIRP. The CoC, in its second meeting on 15.04.2021, resolved to liquidate the Corporate Debtor due to the absence of a viable ongoing business and the lack of a resolution plan. The CoC approved the appointment of A. Mohan Kumar as the
…Originally IBA/901/2019…
Adjudicating Authority admitted the…