The case involves an application (IA(IBC)/804(KB)2020) filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Oxford Facilities Management. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed by Avaani Oxford Owners Association under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor with 100% voting share and recommended the appointment of the Applicant (Ms. Sneh Maheswari) as the Liquidator. The application for liquidation was filed because the only asset of the Corporate Debtor was a fixed deposit of Rs.3.5 Crores.
Avaani Oxford Owners Association filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Oxford Facilities Management. Ms. Sneh Maheswari was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted with a single financial creditor. The CoC resolved to liquidate the Corporate Debtor due to the absence of a viable resolution plan. The only asset of the Corporate Debtor was a fixed deposit of Rs.3.5 Crores. Mr. Bhaskar Biswas, the suspended director of Oxford Facilities Management, filed appeals before the NCLAT and the Supreme Court, challenging the
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The case involves an application (IA(IBC)/804(KB)2020) filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Oxford Facilities Management. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed by Avaani Oxford Owners Association under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor with 100% voting share and recommended the appointment of the Applicant (Ms. Sneh Maheswari) as the Liquidator. The application for liquidation was filed because the only asset of the Corporate Debtor was a fixed deposit of Rs.3.5 Crores.
Avaani Oxford Owners Association filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Oxford Facilities Management. Ms. Sneh Maheswari was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted with a single financial creditor. The CoC resolved to liquidate the Corporate Debtor due to the absence of a viable resolution plan. The only asset of the Corporate Debtor was a fixed deposit of Rs.3.5 Crores. Mr. Bhaskar Biswas, the suspended director of Oxford Facilities Management, filed appeals before the NCLAT and the Supreme Court, challenging the
…Adjudicating Authority passed an order for…
Public announcement was published in…