The case pertains to an application filed by the Resolution Professional, Mr. R. Raghavendran, of M/s. Peejay Agro Foods Private Limited, seeking an order for liquidation of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, and for his appointment as the Liquidator under Section 34 of the Code.
CIRP was initiated against M/s. Peejay Agro Foods Private Limited based on an application by the Financial Creditor.
Mr. R. Raghavendran was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
The Committee of Creditors (CoC) consisted of State Bank of India (SBI) holding 100% voting rights.
Multiple CoC meetings were held, and Form G was published to invite resolution plans.
Only one resolution plan was received from Esvaran Foods Mills Pvt Ltd, but it was rejected due to non-compliance, specifically the failure to furnish the Earnest Money Deposit (EMD).
The CoC resolved to liquidate the Corporate Debtor under Section 33(2) of the IBC.
The RP filed an application seeking liquidation and his appointment as the Liquidator.
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The Corporate Insolvency Resolution Process…
Public announcement was…
The case pertains to an application filed by the Resolution Professional, Mr. R. Raghavendran, of M/s. Peejay Agro Foods Private Limited, seeking an order for liquidation of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, and for his appointment as the Liquidator under Section 34 of the Code.
CIRP was initiated against M/s. Peejay Agro Foods Private Limited based on an application by the Financial Creditor.
Mr. R. Raghavendran was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
The Committee of Creditors (CoC) consisted of State Bank of India (SBI) holding 100% voting rights.
Multiple CoC meetings were held, and Form G was published to invite resolution plans.
Only one resolution plan was received from Esvaran Foods Mills Pvt Ltd, but it was rejected due to non-compliance, specifically the failure to furnish the Earnest Money Deposit (EMD).
The CoC resolved to liquidate the Corporate Debtor under Section 33(2) of the IBC.
The RP filed an application seeking liquidation and his appointment as the Liquidator.
…The Corporate Insolvency Resolution Process…
Public announcement was…