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 Korea Trade Insurance Corporation, an Operational Creditor, effective from 2021-12-21. The applicant, Mr. Prathap Pillai, was appointed as the Resolution Professional (RP) on 2022-04-23 and later as the Liquidator after the liquidation application was approved on 2022-12-16. The CIRP was extended twice, but no resolution plan was submitted, leading to the decision to liquidate the Corporate Debtor.
The Corporate Debtor, M/s. Tenny Jose Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated by Korea Trade Insurance Corporation under Section 9 of the Insolvency and Bankruptcy Code (IBC) with effect from 2021-12-21. Mr. Prathap Pillai was appointed as the Resolution Professional (RP) on 2022-04-23. The CIRP was extended twice, but no resolution plan was submitted. The Stakeholders Consultation Committee (SCC) decided to file for liquidation, which was allowed on 2022-12-16, and the RP was appointed as the Liquidator. The Liquidator made a public announcement as per Regulation 12 of the IBBI (Liquidation Process) Regulations, 2016. The capital structure of the Corporate Debtor consisted of 6 Crore equity capital, but the accumulated net loss as
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Corporate Insolvency Resolution Process…
Mr. Prathap Pillai…
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 Korea Trade Insurance Corporation, an Operational Creditor, effective from 2021-12-21. The applicant, Mr. Prathap Pillai, was appointed as the Resolution Professional (RP) on 2022-04-23 and later as the Liquidator after the liquidation application was approved on 2022-12-16. The CIRP was extended twice, but no resolution plan was submitted, leading to the decision to liquidate the Corporate Debtor.
The Corporate Debtor, M/s. Tenny Jose Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated by Korea Trade Insurance Corporation under Section 9 of the Insolvency and Bankruptcy Code (IBC) with effect from 2021-12-21. Mr. Prathap Pillai was appointed as the Resolution Professional (RP) on 2022-04-23. The CIRP was extended twice, but no resolution plan was submitted. The Stakeholders Consultation Committee (SCC) decided to file for liquidation, which was allowed on 2022-12-16, and the RP was appointed as the Liquidator. The Liquidator made a public announcement as per Regulation 12 of the IBBI (Liquidation Process) Regulations, 2016. The capital structure of the Corporate Debtor consisted of 6 Crore equity capital, but the accumulated net loss as
…Corporate Insolvency Resolution Process…
Mr. Prathap Pillai…