The case involves an application filed by the Liquidator under Section 54 of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of the Corporate Debtor, M/s. Supra Petro Chemicals Private Limited. A Company Petition CP(IB)/44/9/AMR/2022 was filed by M/s.RNJ Commodities Pvt Ltd (OC) against the Corporate Debtor under Section 9 of IBC, 2016. The Adjudicating Authority admitted the matter on 29.09.2022 and appointed Mr. Nethi Mallikarjuna Setty as the Interim Resolution Professional (IRP). The IRP issued a paper publication inviting claims from creditors, but only one claim was received from the Operational Creditor. The CoC was constituted with the Operational Creditor. Due to a slowdown in the power sector, the Corporate Debtor was unable to carry on
…M/s.RNJ Commodities Pvt Ltd (OC) filed a Company Petition CP(IB)/44/9/AMR/2022 against M/s. Supra Petro Chemicals Private Limited (CD) under Section 9 of IBC, 2016. The Adjudicating Authority admitted the petition on 29.09.2022 and appointed Mr. Nethi Mallikarjuna Setty as the Interim Resolution Professional (IRP). The IRP issued a paper publication on 01.10.2022, inviting claims from creditors, with a deadline of 15.10.2022. Only one claim was received from the Operational Creditor for Rs.1,00,00,000/-. The CoC was constituted solely with M/s.RJN Commodities Private Limited (100%). In the first CoC meeting on 25.10.2022, the CoC appointed the Applicant as Resolution Professional (RP). Due to a slowdown in the power sector, the CD was unable to continue business
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The case involves an application filed by the Liquidator under Section 54 of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of the Corporate Debtor, M/s. Supra Petro Chemicals Private Limited. A Company Petition CP(IB)/44/9/AMR/2022 was filed by M/s.RNJ Commodities Pvt Ltd (OC) against the Corporate Debtor under Section 9 of IBC, 2016. The Adjudicating Authority admitted the matter on 29.09.2022 and appointed Mr. Nethi Mallikarjuna Setty as the Interim Resolution Professional (IRP). The IRP issued a paper publication inviting claims from creditors, but only one claim was received from the Operational Creditor. The CoC was constituted with the Operational Creditor. Due to a slowdown in the power sector, the Corporate Debtor was unable to carry on
…M/s.RNJ Commodities Pvt Ltd (OC) filed a Company Petition CP(IB)/44/9/AMR/2022 against M/s. Supra Petro Chemicals Private Limited (CD) under Section 9 of IBC, 2016. The Adjudicating Authority admitted the petition on 29.09.2022 and appointed Mr. Nethi Mallikarjuna Setty as the Interim Resolution Professional (IRP). The IRP issued a paper publication on 01.10.2022, inviting claims from creditors, with a deadline of 15.10.2022. Only one claim was received from the Operational Creditor for Rs.1,00,00,000/-. The CoC was constituted solely with M/s.RJN Commodities Private Limited (100%). In the first CoC meeting on 25.10.2022, the CoC appointed the Applicant as Resolution Professional (RP). Due to a slowdown in the power sector, the CD was unable to continue business
…The Adjudicating Authority admitted the…
The Applicant issued paper publication in…