The case involves an application filed by Mr. Sapan Mohan Garg, the Resolution Professional of M/s. Vinesh Traders Private Limited, seeking the initiation of liquidation proceedings for the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) decided to initiate liquidation due to the negligible assets of the Corporate Debtor. An application was previously filed under Section 7 of the Code by M/s. Alchemist Asset Reconstruction Private Limited, the Financial Creditor, which led to the initiation of the Corporate Insolvency Resolution Process (CIRP).
M/s. Alchemist Asset Reconstruction Private Limited, the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Vinesh Traders Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the application on 2022-03-22 and appointed Mr. Sapan Mohan Garg as the Interim Resolution Professional (IRP), who was later appointed as the Resolution Professional (RP). During the CIRP, the IRP made public announcements for inviting claims. The Committee of Creditors (CoC) was constituted with M/s. Alchemist Asset Reconstruction Private Limited as the sole member. The CoC, after considering the financial position of the Corporate Debtor, decided to initiate
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Adjudicating Authority admitted the application…
The Applicant prepared the list of creditors…
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The case involves an application filed by Mr. Sapan Mohan Garg, the Resolution Professional of M/s. Vinesh Traders Private Limited, seeking the initiation of liquidation proceedings for the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) decided to initiate liquidation due to the negligible assets of the Corporate Debtor. An application was previously filed under Section 7 of the Code by M/s. Alchemist Asset Reconstruction Private Limited, the Financial Creditor, which led to the initiation of the Corporate Insolvency Resolution Process (CIRP).
M/s. Alchemist Asset Reconstruction Private Limited, the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Vinesh Traders Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the application on 2022-03-22 and appointed Mr. Sapan Mohan Garg as the Interim Resolution Professional (IRP), who was later appointed as the Resolution Professional (RP). During the CIRP, the IRP made public announcements for inviting claims. The Committee of Creditors (CoC) was constituted with M/s. Alchemist Asset Reconstruction Private Limited as the sole member. The CoC, after considering the financial position of the Corporate Debtor, decided to initiate
…Adjudicating Authority admitted the application…
The Applicant prepared the list of creditors…
Sign in to view related legal provisions.