The application IA/1479/CHE/2023 was filed in CP(IB)/123/CHE/2022 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, concerning Porpoise Realtors Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2023-03-31, and N.Veerapandian was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement on 2023-04-06, inviting claims from the Corporate Debtor's claimants by 2023-04-17. The Committee of Creditors (CoC) held its first meeting on 2023-05-03, where the applicant informed the CoC that the Corporate Debtor had no business operations and was not a going concern. The applicant requested the CoC to approve eligibility criteria for publishing Form G, inviting resolution plans. However, the CoC
…The Corporate Debtor, Porpoise Realtors Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2023-03-31. N.Veerapandian was appointed as the Interim Resolution Professional (IRP). The company had no business operations and was not a going concern as of the Insolvency Commencement Date. The sole member of the Committee of Creditors (CoC) was M/s. Piramal Capital & Housing Finance Limited, holding 100% voting share. The CoC decided to liquidate the Corporate Debtor in its second meeting held on 2023-06-19, citing the company's non-operational status, lack of prospective resolution applicants, and the liquidation of its parent company, Jeffson Universal Logistics Private Limited, and main operational company, St. John Freight Systems
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Corporate Insolvency Resolution Process (CIRP)…
IRP issued a…
The application IA/1479/CHE/2023 was filed in CP(IB)/123/CHE/2022 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, concerning Porpoise Realtors Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2023-03-31, and N.Veerapandian was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement on 2023-04-06, inviting claims from the Corporate Debtor's claimants by 2023-04-17. The Committee of Creditors (CoC) held its first meeting on 2023-05-03, where the applicant informed the CoC that the Corporate Debtor had no business operations and was not a going concern. The applicant requested the CoC to approve eligibility criteria for publishing Form G, inviting resolution plans. However, the CoC
…The Corporate Debtor, Porpoise Realtors Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2023-03-31. N.Veerapandian was appointed as the Interim Resolution Professional (IRP). The company had no business operations and was not a going concern as of the Insolvency Commencement Date. The sole member of the Committee of Creditors (CoC) was M/s. Piramal Capital & Housing Finance Limited, holding 100% voting share. The CoC decided to liquidate the Corporate Debtor in its second meeting held on 2023-06-19, citing the company's non-operational status, lack of prospective resolution applicants, and the liquidation of its parent company, Jeffson Universal Logistics Private Limited, and main operational company, St. John Freight Systems
…Corporate Insolvency Resolution Process (CIRP)…
IRP issued a…