The case involves an application under Section 33 of the Insolvency & Bankruptcy Code, 2016, regarding Ultramine Pipetech Private Limited, the Corporate Debtor. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 02.11.2022, following a petition filed under section 10 of the Insolvency and Bankruptcy Code, 2016. Mr. Manish Jain was appointed as the Interim Resolution Professional (IRP).
Ultramine Pipetech Private Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated by the Adjudicating Authority on 02.11.2022 following a petition under section 10 of the Insolvency and Bankruptcy Code, 2016. Mr. Manish Jain was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement on 05.11.2022. The Committee of Creditors (CoC) was formed, and claims from Financial Creditors were received. The CoC noted that no one was likely to submit a resolution plan due to the Corporate Debtor's financial distress. The Promoters and Directors were unable to contribute funds, and new investors refused to invest. The CoC unanimously approved the fees of the proposed Liquidator. The CoC resolved by 100%
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The Adjudicating Authority initiated the…
Mr. Manish Jain was…
The case involves an application under Section 33 of the Insolvency & Bankruptcy Code, 2016, regarding Ultramine Pipetech Private Limited, the Corporate Debtor. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 02.11.2022, following a petition filed under section 10 of the Insolvency and Bankruptcy Code, 2016. Mr. Manish Jain was appointed as the Interim Resolution Professional (IRP).
Ultramine Pipetech Private Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated by the Adjudicating Authority on 02.11.2022 following a petition under section 10 of the Insolvency and Bankruptcy Code, 2016. Mr. Manish Jain was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement on 05.11.2022. The Committee of Creditors (CoC) was formed, and claims from Financial Creditors were received. The CoC noted that no one was likely to submit a resolution plan due to the Corporate Debtor's financial distress. The Promoters and Directors were unable to contribute funds, and new investors refused to invest. The CoC unanimously approved the fees of the proposed Liquidator. The CoC resolved by 100%
…The Adjudicating Authority initiated the…
Mr. Manish Jain was…