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 only 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 matter on 2022-09-29 and appointed Mr. Nethi Mallikarjuna Setty as the Interim Resolution Professional (IRP). The IRP issued a paper publication inviting claims from creditors, with a last date of 2022-10-15. Only one claim was received from the Operational Creditor for Rs.1,00,00,000/-. The CoC was constituted only with the Operational Creditor. In the 1st CoC meeting on 2022-10-25, the CoC appointed the Applicant as Resolution Professional (RP). Due to a slowdown in the power sector, the CD was unable to carry on business operations and defaulted in paying
…Sign in to view the parties.
The Adjudicating Authority admitted the…
Mr. Nethi Mallikarjuna…
Sign in to view related legal provisions.
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 only 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 matter on 2022-09-29 and appointed Mr. Nethi Mallikarjuna Setty as the Interim Resolution Professional (IRP). The IRP issued a paper publication inviting claims from creditors, with a last date of 2022-10-15. Only one claim was received from the Operational Creditor for Rs.1,00,00,000/-. The CoC was constituted only with the Operational Creditor. In the 1st CoC meeting on 2022-10-25, the CoC appointed the Applicant as Resolution Professional (RP). Due to a slowdown in the power sector, the CD was unable to carry on business operations and defaulted in paying
…The Adjudicating Authority admitted the…
Mr. Nethi Mallikarjuna…
Sign in to view related legal provisions.