The case pertains to the liquidation of M/s. Sri Chandra Moulishvar Spinning Mills Private Limited, initiated on 07.06.2018, with the liquidation order issued on 04.02.2019. The liquidator made a public announcement on 13.02.2019, setting 06.03.2019 as the last date for claim submissions. The liquidator received 24 claims. Canara Bank, the sole secured creditor, realized the assets. The liquidator filed a preliminary report within 75 days of the liquidation commencement date, 20.04.2019. Valuers were appointed on 17.10.2018, but no valuation occurred due to asset unavailability. Canara Bank did not relinquish its security interest and obtained directions under Section 52 of IBC, 2016. The liquidation process was completed within the prescribed timelines. The Tribunal
…M/s. Sri Chandra Moulishvar Spinning Mills Private Limited ('Corporate Debtor') underwent Corporate Insolvency Resolution Process (CIRP) initiated on 07.06.2018. Liquidation was ordered on 04.02.2019. Muthuiah Thevar Rajapandian was appointed as the liquidator. A public announcement was made on 13.02.2019, with a claim submission deadline of 06.03.2019. The liquidator received 24 claims. Canara Bank, the sole secured creditor, realized assets under SARFAESI Act, 2002. A preliminary report was filed on 20.04.2019. Valuers were appointed on 17.10.2018, but no valuation was carried out. Canara Bank did not relinquish its security interest and obtained directions under Section 52 of IBC, 2016. The Tribunal excluded a period due to COVID-19, extending liquidation to
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Corporate Insolvency…
Liquidation of the…
The case pertains to the liquidation of M/s. Sri Chandra Moulishvar Spinning Mills Private Limited, initiated on 07.06.2018, with the liquidation order issued on 04.02.2019. The liquidator made a public announcement on 13.02.2019, setting 06.03.2019 as the last date for claim submissions. The liquidator received 24 claims. Canara Bank, the sole secured creditor, realized the assets. The liquidator filed a preliminary report within 75 days of the liquidation commencement date, 20.04.2019. Valuers were appointed on 17.10.2018, but no valuation occurred due to asset unavailability. Canara Bank did not relinquish its security interest and obtained directions under Section 52 of IBC, 2016. The liquidation process was completed within the prescribed timelines. The Tribunal
…M/s. Sri Chandra Moulishvar Spinning Mills Private Limited ('Corporate Debtor') underwent Corporate Insolvency Resolution Process (CIRP) initiated on 07.06.2018. Liquidation was ordered on 04.02.2019. Muthuiah Thevar Rajapandian was appointed as the liquidator. A public announcement was made on 13.02.2019, with a claim submission deadline of 06.03.2019. The liquidator received 24 claims. Canara Bank, the sole secured creditor, realized assets under SARFAESI Act, 2002. A preliminary report was filed on 20.04.2019. Valuers were appointed on 17.10.2018, but no valuation was carried out. Canara Bank did not relinquish its security interest and obtained directions under Section 52 of IBC, 2016. The Tribunal excluded a period due to COVID-19, extending liquidation to
…Corporate Insolvency…
Liquidation of the…