The case involves an application filed by the Resolution Professional, Nithiyanantham Ramachandran, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s. Srivatsa International Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application filed by a financial creditor, Ligori Valan Irudhayaraj, under Section 7 of the I&B Code, 2016, which was admitted on 2020-04-03. An Interim Resolution Professional (IRP), Lakshmanan Krishnan, was initially appointed but later expressed difficulties due to the location of the Corporate Debtor. The Committee of Creditors (CoC) then appointed the current applicant as the Resolution Professional.
M/s. Srivatsa International Private Limited faced Corporate Insolvency Resolution Process (CIRP) following an application under Section 7 of the I&B Code, 2016, by financial creditor Ligori Valan Irudhayaraj, admitted on 2020-04-03. Lakshmanan Krishnan was initially appointed as the Interim Resolution Professional (IRP) but expressed difficulties. Nithiyanantham Ramachandran was then appointed as the Resolution Professional. The Committee of Creditors (CoC) held multiple meetings where issues such as non-receipt of accounts and asset registers from the suspended director were discussed. An application under section 19(2) of IBC, 2016, was filed due to the director's non-cooperation. Claims amounting to Rs. 51,32,29,342/- were received. The CoC also discussed
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Application filed by Ligori Valan Irudhayaraj…
Shri. Lakshmanan…
The case involves an application filed by the Resolution Professional, Nithiyanantham Ramachandran, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s. Srivatsa International Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application filed by a financial creditor, Ligori Valan Irudhayaraj, under Section 7 of the I&B Code, 2016, which was admitted on 2020-04-03. An Interim Resolution Professional (IRP), Lakshmanan Krishnan, was initially appointed but later expressed difficulties due to the location of the Corporate Debtor. The Committee of Creditors (CoC) then appointed the current applicant as the Resolution Professional.
M/s. Srivatsa International Private Limited faced Corporate Insolvency Resolution Process (CIRP) following an application under Section 7 of the I&B Code, 2016, by financial creditor Ligori Valan Irudhayaraj, admitted on 2020-04-03. Lakshmanan Krishnan was initially appointed as the Interim Resolution Professional (IRP) but expressed difficulties. Nithiyanantham Ramachandran was then appointed as the Resolution Professional. The Committee of Creditors (CoC) held multiple meetings where issues such as non-receipt of accounts and asset registers from the suspended director were discussed. An application under section 19(2) of IBC, 2016, was filed due to the director's non-cooperation. Claims amounting to Rs. 51,32,29,342/- were received. The CoC also discussed
…Application filed by Ligori Valan Irudhayaraj…
Shri. Lakshmanan…