The case involves an application for the liquidation of Talwalkars Better Value Fitness Limited, the Corporate Debtor. Axis Bank Limited, the Financial Creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal admitted the petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) on 2021-01-11. The Interim Resolution Professional (IRP) was appointed, who then made public announcements inviting claims from creditors. A Committee of Creditors (CoC) was constituted. Prior to the CIRP, a Scheme of Demerger was approved by the NCLT on 2017-12-21, demerging the gym business of the Corporate Debtor into Talwalkars Healthclubs Limited. The IRP was appointed as the Resolution Professional (RP) in the first CoC
…Axis Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against Talwalkars Better Value Fitness Limited. The petition was admitted on 2021-01-11 under Section 7 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed, who then made public announcements inviting claims from creditors and constituted a Committee of Creditors (CoC). Prior to the CIRP, a Scheme of Demerger was approved by the NCLT on 2017-12-21, demerging the gym business of the Corporate Debtor into Talwalkars Healthclubs Limited. The IRP was appointed as the Resolution Professional (RP) in the first CoC meeting held on 2021-02-17. The RP filed an application due to non-cooperation from the erstwhile management. The RP published Form G on
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A Scheme of Demerger was approved by the…
The Tribunal admitted the petition under…
The case involves an application for the liquidation of Talwalkars Better Value Fitness Limited, the Corporate Debtor. Axis Bank Limited, the Financial Creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal admitted the petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) on 2021-01-11. The Interim Resolution Professional (IRP) was appointed, who then made public announcements inviting claims from creditors. A Committee of Creditors (CoC) was constituted. Prior to the CIRP, a Scheme of Demerger was approved by the NCLT on 2017-12-21, demerging the gym business of the Corporate Debtor into Talwalkars Healthclubs Limited. The IRP was appointed as the Resolution Professional (RP) in the first CoC
…Axis Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against Talwalkars Better Value Fitness Limited. The petition was admitted on 2021-01-11 under Section 7 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed, who then made public announcements inviting claims from creditors and constituted a Committee of Creditors (CoC). Prior to the CIRP, a Scheme of Demerger was approved by the NCLT on 2017-12-21, demerging the gym business of the Corporate Debtor into Talwalkars Healthclubs Limited. The IRP was appointed as the Resolution Professional (RP) in the first CoC meeting held on 2021-02-17. The RP filed an application due to non-cooperation from the erstwhile management. The RP published Form G on
…A Scheme of Demerger was approved by the…
The Tribunal admitted the petition under…