The case involves an application under section 60(5) of the Insolvency and Bankruptcy Code, 2016, regarding the Corporate Insolvency Resolution Process (CIRP) of Basukinath Agro Private Limited. The CIRP was initiated based on a petition filed by Poddar Business Private Limited, the Operational Creditor. Parag Chakrabarti was appointed as the Interim Resolution Professional (IRP).
The Adjudicating Authority initiated CIRP for Basukinath Agro Private Limited on 05 November 2019.
Poddar Business Private Limited filed the Company Petition under section 9 as Operational Creditor.
Parag Chakrabarti was appointed as the Interim Resolution Professional (IRP).
The IRP constituted a Committee of Creditors (CoC) with Poddar Business Private Limited as the sole member.
The CoC did not appoint Registered Valuers initially.
The Forensic Auditor submitted the Final Report on 30 November 2020.
The liquidity position of the Corporate Debtor worsened since 31 March 2019.
The CoC has not made payment toward the CIRP cost.
The CoC resolved to terminate the CIRP and liquidate the Corporate Debtor.
The Corporate Debtor does not have any assets.
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Adjudicating Authority ordered initiation of…
The IRP published Form…
The case involves an application under section 60(5) of the Insolvency and Bankruptcy Code, 2016, regarding the Corporate Insolvency Resolution Process (CIRP) of Basukinath Agro Private Limited. The CIRP was initiated based on a petition filed by Poddar Business Private Limited, the Operational Creditor. Parag Chakrabarti was appointed as the Interim Resolution Professional (IRP).
The Adjudicating Authority initiated CIRP for Basukinath Agro Private Limited on 05 November 2019.
Poddar Business Private Limited filed the Company Petition under section 9 as Operational Creditor.
Parag Chakrabarti was appointed as the Interim Resolution Professional (IRP).
The IRP constituted a Committee of Creditors (CoC) with Poddar Business Private Limited as the sole member.
The CoC did not appoint Registered Valuers initially.
The Forensic Auditor submitted the Final Report on 30 November 2020.
The liquidity position of the Corporate Debtor worsened since 31 March 2019.
The CoC has not made payment toward the CIRP cost.
The CoC resolved to terminate the CIRP and liquidate the Corporate Debtor.
The Corporate Debtor does not have any assets.
…Adjudicating Authority ordered initiation of…
The IRP published Form…