The application was filed by the Resolution Professional of Solar Offset Printers Pvt. Ltd. for an order of liquidation against the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and admitted by the Adjudicating Authority on 30.06.2022. The CIRP commenced with the appointment of Mr. Francis Mathew as Interim Resolution Professional (IRP). The Committee of Creditors (CoC) later resolved to replace the IRP with Mr. Padmakumar KC. The invitation for Expression of Interest (EOI) was published, and the suspended Director of the Corporate Debtor expressed interest in submitting a Resolution Plan. However, the submitted plan lacked documentary evidence regarding the source
…Solar Offset Printers Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 30.06.2022. Mr. Francis Mathew was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Padmakumar K.C. The invitation for Expression of Interest (EOI) was published, and the suspended Director of the Corporate Debtor expressed interest in submitting a Resolution Plan. However, the submitted plan lacked documentary evidence regarding the source of funds. The Committee of Creditors (CoC) granted multiple extensions for the CIRP period. The CoC, with 100% voting, resolved to file an application for the liquidation process due to the lack of a viable
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The Corporate Insolvency Resolution Process…
The CoC in its 2nd meeting passed resolution…
The application was filed by the Resolution Professional of Solar Offset Printers Pvt. Ltd. for an order of liquidation against the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and admitted by the Adjudicating Authority on 30.06.2022. The CIRP commenced with the appointment of Mr. Francis Mathew as Interim Resolution Professional (IRP). The Committee of Creditors (CoC) later resolved to replace the IRP with Mr. Padmakumar KC. The invitation for Expression of Interest (EOI) was published, and the suspended Director of the Corporate Debtor expressed interest in submitting a Resolution Plan. However, the submitted plan lacked documentary evidence regarding the source
…Solar Offset Printers Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 30.06.2022. Mr. Francis Mathew was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Padmakumar K.C. The invitation for Expression of Interest (EOI) was published, and the suspended Director of the Corporate Debtor expressed interest in submitting a Resolution Plan. However, the submitted plan lacked documentary evidence regarding the source of funds. The Committee of Creditors (CoC) granted multiple extensions for the CIRP period. The CoC, with 100% voting, resolved to file an application for the liquidation process due to the lack of a viable
…The Corporate Insolvency Resolution Process…
The CoC in its 2nd meeting passed resolution…