The case pertains to an application (IA-28/2024) filed for the liquidation of the corporate debtor, Srivenkateshwar Tradex Pvt. Ltd., 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) was initially proposed as the liquidator, but due to an IBBI circular, this was reconsidered.
Srivenkateshwar Tradex Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC) voted with 100% share to liquidate the Corporate Debtor. An application, IA-28/2024, was filed seeking liquidation under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016. The Resolution Professional (RP), Mr. Atul Jindal, was initially proposed as the liquidator. However, an IBBI circular dated 18.07.2023 stipulated that the IRP/RP may not be appointed as the Liquidator when the CD goes into liquidation. The CoC passed a resolution pursuant to section 33(2) and Regulation 40 D of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and other applicable provisions, of
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The case pertains to an application (IA-28/2024) filed for the liquidation of the corporate debtor, Srivenkateshwar Tradex Pvt. Ltd., 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) was initially proposed as the liquidator, but due to an IBBI circular, this was reconsidered.
Srivenkateshwar Tradex Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC) voted with 100% share to liquidate the Corporate Debtor. An application, IA-28/2024, was filed seeking liquidation under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016. The Resolution Professional (RP), Mr. Atul Jindal, was initially proposed as the liquidator. However, an IBBI circular dated 18.07.2023 stipulated that the IRP/RP may not be appointed as the Liquidator when the CD goes into liquidation. The CoC passed a resolution pursuant to section 33(2) and Regulation 40 D of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and other applicable provisions, of
…IBBI issued a circular stating that the IRP/RP…
Order delive…
Sign in to view related legal provisions.