The application was filed under Section 33(1)(a), 33(2) & 34(1) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of NCLT Rules, 2016, seeking reliefs related to the liquidation of the Corporate Debtor.
The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated on 24.02.2020.
The applicant was appointed as the Interim Resolution Professional (IRP).
The CoC approved a resolution plan with 100% voting on 04.7.2022.
The Tribunal rejected the resolution plan vide order dated 01.7.2024.
AXIS Bank, holding 75.3% share in the CoC, decided to initiate the liquidation process on 11.12.2024.
The CoC decided to liquidate the Corporate Debtor immediately and passed the necessary resolutions.
Mr. Sandeep Kumar Kejriwal has consented to act as the Liquidator of the Corporate Debtor.
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Corporate Insolvency…
Public announcement about initiation of the…
The application was filed under Section 33(1)(a), 33(2) & 34(1) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of NCLT Rules, 2016, seeking reliefs related to the liquidation of the Corporate Debtor.
The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated on 24.02.2020.
The applicant was appointed as the Interim Resolution Professional (IRP).
The CoC approved a resolution plan with 100% voting on 04.7.2022.
The Tribunal rejected the resolution plan vide order dated 01.7.2024.
AXIS Bank, holding 75.3% share in the CoC, decided to initiate the liquidation process on 11.12.2024.
The CoC decided to liquidate the Corporate Debtor immediately and passed the necessary resolutions.
Mr. Sandeep Kumar Kejriwal has consented to act as the Liquidator of the Corporate Debtor.
Corporate Insolvency…
Public announcement about initiation of the…