The Corporate Insolvency Resolution Process (CIRP) for Neo Aid Communications (India) Pvt. Ltd. (Corporate Debtor) was initiated following a petition filed by Alert Security & Allied Services (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). Mr. Mahendra Prakash Khandelwal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). Due to the absence of a viable Resolution Plan and the inability of financial creditors to infuse additional funds, the Committee of Creditors (CoC) concluded that liquidation was the only option. Consequently, the Adjudicating Authority ordered the liquidation of the Corporate Debtor on January 25, 2019, and appointed Mr. Mahendra
…Alert Security & Allied Services, an Operational Creditor, filed a petition under Section 9 of the IBC, 2016, for the initiation of Corporate Insolvency Resolution Process (CIRP) against Neo Aid Communications (India) Pvt. Ltd., which was admitted on 09.07.2018.
Mr. Mahendra Prakash Khandelwal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 12.08.2018.
No Resolution Plan was received for the Corporate Debtor, and the Financial Creditors in the CoC expressed their inability to provide additional funds, leading to the conclusion that liquidation was the only option.
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The Adjudicating Authority admitted the…
The first meeting of the Committee of…
Sign in to view related legal provisions.
The Corporate Insolvency Resolution Process (CIRP) for Neo Aid Communications (India) Pvt. Ltd. (Corporate Debtor) was initiated following a petition filed by Alert Security & Allied Services (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). Mr. Mahendra Prakash Khandelwal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). Due to the absence of a viable Resolution Plan and the inability of financial creditors to infuse additional funds, the Committee of Creditors (CoC) concluded that liquidation was the only option. Consequently, the Adjudicating Authority ordered the liquidation of the Corporate Debtor on January 25, 2019, and appointed Mr. Mahendra
…Alert Security & Allied Services, an Operational Creditor, filed a petition under Section 9 of the IBC, 2016, for the initiation of Corporate Insolvency Resolution Process (CIRP) against Neo Aid Communications (India) Pvt. Ltd., which was admitted on 09.07.2018.
Mr. Mahendra Prakash Khandelwal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 12.08.2018.
No Resolution Plan was received for the Corporate Debtor, and the Financial Creditors in the CoC expressed their inability to provide additional funds, leading to the conclusion that liquidation was the only option.
…The Adjudicating Authority admitted the…
The first meeting of the Committee of…
Sign in to view related legal provisions.