The case pertains to an application filed by the Liquidator, Ms. Neha Firoda, of RJVJ Traders Pvt. Ltd. for the dissolution of the corporate debtor under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 14 of the Liquidation Regulations, 2016. The CIRP proceedings were initiated on 22.04.2021, and Ms. Neha Firoda was appointed as the IRP. The Committee of Creditors (CoC) resolved to liquidate the corporate debtor due to insufficient assets to meet liabilities. An order of liquidation was passed on 01.10.2021, and the liquidation process commenced.
The Corporate Debtor, RJVJ Traders Pvt. Ltd., underwent CIRP proceedings initiated on 2021-04-22. Neha Firoda was appointed as the IRP and later as the Liquidator. The CoC resolved to liquidate the company due to a lack of sufficient assets. The liquidation process commenced on 2021-10-01. A public announcement of liquidation was made on 2021-12-10. The total claim admitted by the Liquidator was Rs. 3,18,52,826. The Stakeholders Consultation Committee (SCC) was formed, comprising Mangalnayak Traders Pvt. Ltd. and Pawan Jain & Co. The company possessed minimal assets, with a cash balance of Rs. 69,350, which was used for liquidation costs. The assets were Rs 1,57,756 and liabilities were Rs 3,20,32,828. The Income Tax Department had no outstanding demand, and the
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The case pertains to an application filed by the Liquidator, Ms. Neha Firoda, of RJVJ Traders Pvt. Ltd. for the dissolution of the corporate debtor under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 14 of the Liquidation Regulations, 2016. The CIRP proceedings were initiated on 22.04.2021, and Ms. Neha Firoda was appointed as the IRP. The Committee of Creditors (CoC) resolved to liquidate the corporate debtor due to insufficient assets to meet liabilities. An order of liquidation was passed on 01.10.2021, and the liquidation process commenced.
The Corporate Debtor, RJVJ Traders Pvt. Ltd., underwent CIRP proceedings initiated on 2021-04-22. Neha Firoda was appointed as the IRP and later as the Liquidator. The CoC resolved to liquidate the company due to a lack of sufficient assets. The liquidation process commenced on 2021-10-01. A public announcement of liquidation was made on 2021-12-10. The total claim admitted by the Liquidator was Rs. 3,18,52,826. The Stakeholders Consultation Committee (SCC) was formed, comprising Mangalnayak Traders Pvt. Ltd. and Pawan Jain & Co. The company possessed minimal assets, with a cash balance of Rs. 69,350, which was used for liquidation costs. The assets were Rs 1,57,756 and liabilities were Rs 3,20,32,828. The Income Tax Department had no outstanding demand, and the
…CIRP proceeding…
Order of liquidation of…
Sign in to view related legal provisions.