The case pertains to an application filed by the Resolution Professional (RP) of Tradohub B2B Limited, seeking liquidation of the Corporate Debtor under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application filed by Skystep Trading Limited (Operational Creditor) under Section 9 of the IBC, which was admitted by the Adjudicating Authority on 16.11.2021. Mr. Sachin Naveen Sinha was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) in its meetings discussed the continuation of CIRP versus liquidation, considering the limited assets and operational feasibility of the
…Skystep Trading Limited filed an application under Section 9 of the IBC, leading to the initiation of CIRP against Tradohub B2B Limited. The Adjudicating Authority admitted the application on 16.11.2021. Sachin Naveen Sinha was appointed as the IRP and later continued as the RP. Public announcements were made to invite claims from creditors. The total claims received and admitted amounted to Rs. 18,50,81,390.54. The CoC in its meetings considered the financial status of the Corporate Debtor, including the fact that it had only one immovable property with limited value. The CoC determined that the Corporate Debtor lacked the feasibility to maintain and run its business operations. The CoC voted with 69.22% share to liquidate the Corporate Debtor. Valuation reports for
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The Adjudicating Authority admitted the…
IRP made a public announcement in Financial…
The case pertains to an application filed by the Resolution Professional (RP) of Tradohub B2B Limited, seeking liquidation of the Corporate Debtor under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application filed by Skystep Trading Limited (Operational Creditor) under Section 9 of the IBC, which was admitted by the Adjudicating Authority on 16.11.2021. Mr. Sachin Naveen Sinha was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) in its meetings discussed the continuation of CIRP versus liquidation, considering the limited assets and operational feasibility of the
…Skystep Trading Limited filed an application under Section 9 of the IBC, leading to the initiation of CIRP against Tradohub B2B Limited. The Adjudicating Authority admitted the application on 16.11.2021. Sachin Naveen Sinha was appointed as the IRP and later continued as the RP. Public announcements were made to invite claims from creditors. The total claims received and admitted amounted to Rs. 18,50,81,390.54. The CoC in its meetings considered the financial status of the Corporate Debtor, including the fact that it had only one immovable property with limited value. The CoC determined that the Corporate Debtor lacked the feasibility to maintain and run its business operations. The CoC voted with 69.22% share to liquidate the Corporate Debtor. Valuation reports for
…The Adjudicating Authority admitted the…
IRP made a public announcement in Financial…