The case pertains to an application (IA-28/2024) filed for the liquidation of Srivenkateshwar Tradex Pvt. Ltd., the corporate debtor, under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (CoC) had approved the liquidation with a 100% voting share. The Resolution Professional (RP), Mr. Atul Jindal, was initially proposed as the liquidator. However, due to an IBBI circular, the RP could not be appointed as the liquidator.
Srivenkateshwar Tradex Pvt. Ltd. is the corporate debtor. An application (IA-28/2024) was filed seeking liquidation of the corporate debtor under Section 33(2) of the IBC. The CoC approved the liquidation with 100% voting share. Mr. Atul Jindal, the Resolution Professional, was initially proposed as the liquidator. However, an IBBI circular (Liq-12011/214/2023-IBBI/840 dated 18.07.2023) restricts the appointment of the RP as the liquidator when the corporate debtor goes into liquidation. The CoC's resolution dated 22.05.2024 decided to liquidate the Corporate Debtor. The resolution authorized the RP to file appropriate applications. The application proposed Mr. Atul Jindal as the liquidator. The IBBI circular states that in cases where the CD has not been resolved
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IBBI issued Circular No.…
The Committee of Creditors (CoC) passed a…
The case pertains to an application (IA-28/2024) filed for the liquidation of Srivenkateshwar Tradex Pvt. Ltd., the corporate debtor, under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (CoC) had approved the liquidation with a 100% voting share. The Resolution Professional (RP), Mr. Atul Jindal, was initially proposed as the liquidator. However, due to an IBBI circular, the RP could not be appointed as the liquidator.
Srivenkateshwar Tradex Pvt. Ltd. is the corporate debtor. An application (IA-28/2024) was filed seeking liquidation of the corporate debtor under Section 33(2) of the IBC. The CoC approved the liquidation with 100% voting share. Mr. Atul Jindal, the Resolution Professional, was initially proposed as the liquidator. However, an IBBI circular (Liq-12011/214/2023-IBBI/840 dated 18.07.2023) restricts the appointment of the RP as the liquidator when the corporate debtor goes into liquidation. The CoC's resolution dated 22.05.2024 decided to liquidate the Corporate Debtor. The resolution authorized the RP to file appropriate applications. The application proposed Mr. Atul Jindal as the liquidator. The IBBI circular states that in cases where the CD has not been resolved
…IBBI issued Circular No.…
The Committee of Creditors (CoC) passed a…