The case pertains to an application filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of Richa Creation India Private Limited, the Corporate Debtor (CD). The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 7 of the IBC, and the applicant, Devendra P. Jain, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Due to the non-resolution of the CD during the CIRP period, the Committee of Creditors (CoC) passed a resolution for the liquidation of the CD. The applicant was then appointed as the liquidator. Public announcement was made to invite claims from creditors, and a Stakeholders' Consultation Committee (SCC) was formed.
The Corporate Insolvency Resolution Process (CIRP) of Richa Creation India Private Limited was initiated under Section 7 of the IBC. Devendra P. Jain was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Due to the non-resolution of the CD during the CIRP period, the Committee of Creditors (CoC) passed a resolution for the liquidation of the CD, and Devendra P. Jain was appointed as the liquidator. The liquidator made a public announcement to invite claims from creditors and formed a Stakeholders' Consultation Committee (SCC). The liquidator faced challenges due to the obsolete nature of the assets and the lack of adequate information from the suspended board of directors. E-auctions were conducted, and
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Corporate Insolvency Resolution Process (CIRP)…
The Bench allowed the commencement of…
The case pertains to an application filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of Richa Creation India Private Limited, the Corporate Debtor (CD). The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 7 of the IBC, and the applicant, Devendra P. Jain, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Due to the non-resolution of the CD during the CIRP period, the Committee of Creditors (CoC) passed a resolution for the liquidation of the CD. The applicant was then appointed as the liquidator. Public announcement was made to invite claims from creditors, and a Stakeholders' Consultation Committee (SCC) was formed.
The Corporate Insolvency Resolution Process (CIRP) of Richa Creation India Private Limited was initiated under Section 7 of the IBC. Devendra P. Jain was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Due to the non-resolution of the CD during the CIRP period, the Committee of Creditors (CoC) passed a resolution for the liquidation of the CD, and Devendra P. Jain was appointed as the liquidator. The liquidator made a public announcement to invite claims from creditors and formed a Stakeholders' Consultation Committee (SCC). The liquidator faced challenges due to the obsolete nature of the assets and the lack of adequate information from the suspended board of directors. E-auctions were conducted, and
…Corporate Insolvency Resolution Process (CIRP)…
The Bench allowed the commencement of…