The case pertains to the Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of M/s. Tenny Jose Limited. The CIRP was initiated based on an application filed under Section 9 of the Insolvency and Bankruptcy Code by an operational creditor, Korea Trade Insurance Corporation, effective from 2021-12-21. The applicant was appointed as the Resolution Professional (RP) on 2022-04-23. The CIRP was extended twice, but the prospective resolution applicant failed to submit a resolution plan. Consequently, the Stakeholders Consultation Committee (SCC) decided to file for liquidation, which was allowed on 2022-12-16, and the Resolution Professional was appointed as the Liquidator.
The Corporate Debtor, M/s. Tenny Jose Limited, underwent CIRP initiated by Korea Trade Insurance Corporation under Section 9 of the IBC, effective from 2021-12-21. The CIRP was extended twice, but no resolution plan was submitted. The SCC decided to liquidate the Corporate Debtor, and the liquidation application was allowed on 2022-12-16, with the RP appointed as Liquidator. The Liquidator made a public announcement as per Regulation 12 of the IBBI (Liquidation Process) Regulations, 2016. The Liquidator provided details of the capital structure, showing a fully paid-up equity capital of 6 Crore but an accumulated net loss of Rs. 44,61,04,718 as of 2021-12-21. All stakeholders submitted their claims, and the Liquidator updated the claims on the IBBI portal and
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Corporate Debtor brought into CIRP through…
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The case pertains to the Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of M/s. Tenny Jose Limited. The CIRP was initiated based on an application filed under Section 9 of the Insolvency and Bankruptcy Code by an operational creditor, Korea Trade Insurance Corporation, effective from 2021-12-21. The applicant was appointed as the Resolution Professional (RP) on 2022-04-23. The CIRP was extended twice, but the prospective resolution applicant failed to submit a resolution plan. Consequently, the Stakeholders Consultation Committee (SCC) decided to file for liquidation, which was allowed on 2022-12-16, and the Resolution Professional was appointed as the Liquidator.
The Corporate Debtor, M/s. Tenny Jose Limited, underwent CIRP initiated by Korea Trade Insurance Corporation under Section 9 of the IBC, effective from 2021-12-21. The CIRP was extended twice, but no resolution plan was submitted. The SCC decided to liquidate the Corporate Debtor, and the liquidation application was allowed on 2022-12-16, with the RP appointed as Liquidator. The Liquidator made a public announcement as per Regulation 12 of the IBBI (Liquidation Process) Regulations, 2016. The Liquidator provided details of the capital structure, showing a fully paid-up equity capital of 6 Crore but an accumulated net loss of Rs. 44,61,04,718 as of 2021-12-21. All stakeholders submitted their claims, and the Liquidator updated the claims on the IBBI portal and
…Corporate Debtor brought into CIRP through…
Applicant appointed as…