The case involves an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, filed by the Resolution Professional (RP) of Yummz Foods Private Limited, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on November 17, 2022. The applicant made a public announcement in Form-A on November 20, 2022. Only one resolution plan was received, which was not approved by the Committee of Creditors (CoC).
Indian Overseas Bank, a Nationalized Public Sector Bank, initiated Corporate Insolvency Resolution Process (CIRP) against Yummz Foods Private Limited. The CIRP was initiated on November 17, 2022. Ram Ratan Modi was appointed as the Resolution Professional (RP). A public announcement was made on November 20, 2022, and the last date for submission of proof of claims was December 1, 2022. Only one resolution plan was received from Mr. Sabyasachi Saha and Mrs. Dipanwita Saha for Rs.5.9 crores, but it was not approved by the Committee of Creditors (CoC). The CoC discussed the issue of liquidation but did not take any decision. The Applicant sought liquidation of the Corporate Debtor with the approval of the CoC members. The sole Financial Creditor, Indian Overseas Bank,
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Corporate Insolvency…
Public announcement…
The case involves an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, filed by the Resolution Professional (RP) of Yummz Foods Private Limited, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on November 17, 2022. The applicant made a public announcement in Form-A on November 20, 2022. Only one resolution plan was received, which was not approved by the Committee of Creditors (CoC).
Indian Overseas Bank, a Nationalized Public Sector Bank, initiated Corporate Insolvency Resolution Process (CIRP) against Yummz Foods Private Limited. The CIRP was initiated on November 17, 2022. Ram Ratan Modi was appointed as the Resolution Professional (RP). A public announcement was made on November 20, 2022, and the last date for submission of proof of claims was December 1, 2022. Only one resolution plan was received from Mr. Sabyasachi Saha and Mrs. Dipanwita Saha for Rs.5.9 crores, but it was not approved by the Committee of Creditors (CoC). The CoC discussed the issue of liquidation but did not take any decision. The Applicant sought liquidation of the Corporate Debtor with the approval of the CoC members. The sole Financial Creditor, Indian Overseas Bank,
…Corporate Insolvency…
Public announcement…