The case involves an application (IA-923/2021) filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, MTC E-Com Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition filed by Nailesh Dresswala, the Operational Creditor, under Section 9 of the Code. The applicant was appointed as Interim Resolution Professional and later as Resolution Professional. Despite efforts to find resolution applicants, none met the eligibility criteria, leading the Committee of Creditors (CoC) to resolve to initiate liquidation proceedings with 100% voting.
On 17.08.2020, the Tribunal admitted a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) filed by Nailesh Dresswala, the Operational Creditor, initiating the Corporate Insolvency Resolution Process (CIRP) against MTC E-Com Private Limited, the Corporate Debtor. The applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP appointed a Statutory Auditor, M/s. Ajay Shobha & Company, on 23.10.2020, to prepare financial statements. Two registered valuers, Mr. Vinay Totla and Ms. Asha Ghosal, were appointed to determine the fair value and liquidation value of the Corporate Debtor. On 31.10.2020, Form G was issued to invite expressions of interest from prospective resolution applicants. An
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Tribunal admitted petition under Section 9…
RP appointed M/s. Ajay…
The case involves an application (IA-923/2021) filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, MTC E-Com Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition filed by Nailesh Dresswala, the Operational Creditor, under Section 9 of the Code. The applicant was appointed as Interim Resolution Professional and later as Resolution Professional. Despite efforts to find resolution applicants, none met the eligibility criteria, leading the Committee of Creditors (CoC) to resolve to initiate liquidation proceedings with 100% voting.
On 17.08.2020, the Tribunal admitted a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) filed by Nailesh Dresswala, the Operational Creditor, initiating the Corporate Insolvency Resolution Process (CIRP) against MTC E-Com Private Limited, the Corporate Debtor. The applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP appointed a Statutory Auditor, M/s. Ajay Shobha & Company, on 23.10.2020, to prepare financial statements. Two registered valuers, Mr. Vinay Totla and Ms. Asha Ghosal, were appointed to determine the fair value and liquidation value of the Corporate Debtor. On 31.10.2020, Form G was issued to invite expressions of interest from prospective resolution applicants. An
…Tribunal admitted petition under Section 9…
RP appointed M/s. Ajay…