The case pertains to an application under Section 54(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 45(3)(b) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The application seeks the dissolution of the Corporate Debtor, Shree Gajapati Paints Private Limited, after the completion of the liquidation process. The applicant/petitioner, Mr. Rasik Singhania, was appointed as the Liquidator to initiate the liquidation process against the Corporate Debtor under Section 33, Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016.
On 18.03.2021, Mr. Rasik Singhania was appointed as the Liquidator to initiate the liquidation process against Shree Gajapati Paints Private Limited. A public announcement was made on 22.03.2021, inviting proof of claims from all stakeholders. The liquidator received claims from 5 creditors, totaling Rs. 3,21,47,133/-, and admitted claims of Rs. 3,19,13,632/-. The Corporate Debtor had land, building, and plant & machinery, with a liquidation value estimated at Rs. 237.08 lakhs. The liquidator constituted a Stakeholders Consultation Committee (SCC) on 20.05.2021 and conducted four meetings. The liquidator intimated the Office of the Registrar of Companies about the liquidation order on 12.04.2021. The Corporate Debtor had no business operations or employees/workers
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Mr. Rasik Singhania was appointed as the…
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The case pertains to an application under Section 54(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 45(3)(b) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The application seeks the dissolution of the Corporate Debtor, Shree Gajapati Paints Private Limited, after the completion of the liquidation process. The applicant/petitioner, Mr. Rasik Singhania, was appointed as the Liquidator to initiate the liquidation process against the Corporate Debtor under Section 33, Chapter III of Part II of the Insolvency and Bankruptcy Code, 2016.
On 18.03.2021, Mr. Rasik Singhania was appointed as the Liquidator to initiate the liquidation process against Shree Gajapati Paints Private Limited. A public announcement was made on 22.03.2021, inviting proof of claims from all stakeholders. The liquidator received claims from 5 creditors, totaling Rs. 3,21,47,133/-, and admitted claims of Rs. 3,19,13,632/-. The Corporate Debtor had land, building, and plant & machinery, with a liquidation value estimated at Rs. 237.08 lakhs. The liquidator constituted a Stakeholders Consultation Committee (SCC) on 20.05.2021 and conducted four meetings. The liquidator intimated the Office of the Registrar of Companies about the liquidation order on 12.04.2021. The Corporate Debtor had no business operations or employees/workers
…Mr. Rasik Singhania was appointed as the…
A public announcement was made in Form B of…