The case pertains to an application filed by the Liquidator of SWE Fashions Private Limited, seeking the dissolution of the Corporate Debtor under Section 54 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 45 (3)(B) of the IBBI (Liquidation Process) Regulation, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 23.03.2021, and the applicant, Shri Venkata Subbarao Kalva, was appointed as the Interim Resolution Professional (IRP). The IRP was later confirmed as the Resolution Professional (RP) on 06.08.2021. Subsequently, the Committee of Creditors (CoC) approved the initiation of liquidation on 09.12.2021, and the RP was approved as the Liquidator on 08.03.2022.
The Corporate Insolvency Resolution Process (CIRP) of SWE Fashions Private Limited was initiated on 23.03.2021. Shri Venkata Subbarao Kalva was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC) approved the initiation of liquidation on 09.12.2021, with 98.80% of the voting share. The RP was approved as Liquidator on 08.03.2022. The Liquidator made a public announcement on 22.03.2022. Claims were received from various creditors amounting to Rs.56,70,52,510/-, and the Liquidator admitted claims of Rs.45,06,94,032/-. A Stakeholders Consultation Committee was constituted on 18.05.2022. The State Bank of India, as a secured financial creditor, disposed of assets under the SARFESAI
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Corporate Insolvency…
Shri Venkata Subbarao…
The case pertains to an application filed by the Liquidator of SWE Fashions Private Limited, seeking the dissolution of the Corporate Debtor under Section 54 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 45 (3)(B) of the IBBI (Liquidation Process) Regulation, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 23.03.2021, and the applicant, Shri Venkata Subbarao Kalva, was appointed as the Interim Resolution Professional (IRP). The IRP was later confirmed as the Resolution Professional (RP) on 06.08.2021. Subsequently, the Committee of Creditors (CoC) approved the initiation of liquidation on 09.12.2021, and the RP was approved as the Liquidator on 08.03.2022.
The Corporate Insolvency Resolution Process (CIRP) of SWE Fashions Private Limited was initiated on 23.03.2021. Shri Venkata Subbarao Kalva was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC) approved the initiation of liquidation on 09.12.2021, with 98.80% of the voting share. The RP was approved as Liquidator on 08.03.2022. The Liquidator made a public announcement on 22.03.2022. Claims were received from various creditors amounting to Rs.56,70,52,510/-, and the Liquidator admitted claims of Rs.45,06,94,032/-. A Stakeholders Consultation Committee was constituted on 18.05.2022. The State Bank of India, as a secured financial creditor, disposed of assets under the SARFESAI
…Corporate Insolvency…
Shri Venkata Subbarao…