The application was filed by the Interim Resolution Professional (IRP) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the corporate debtor, Agrimas Chemical Limited, and to appoint a liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Agrimas Chemical Limited on 30.01.2025.
The application was filed by IDBI Bank Limited under Section 7 of the Code.
The Committee of Creditors (CoC) was constituted on 21.02.2025, comprising State Bank of India and IDBI Bank Limited.
The CoC decided to initiate the liquidation process of the Corporate Debtor on 04.07.2025.
Mr. Sanjay Kumar Gupta was appointed as the liquidator of the Corporate Debtor.
The CoC noted that the amounts offered in each resolution plan were below the average liquidation value.
The Corporate Debtor has remained non-operational for over two years, and the primary manufacturing unit at MIDC Taloja has remained completely shut and non-operational for more than seven years.
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Corporate Insolvency…
Committee of Creditors…
The application was filed by the Interim Resolution Professional (IRP) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the corporate debtor, Agrimas Chemical Limited, and to appoint a liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Agrimas Chemical Limited on 30.01.2025.
The application was filed by IDBI Bank Limited under Section 7 of the Code.
The Committee of Creditors (CoC) was constituted on 21.02.2025, comprising State Bank of India and IDBI Bank Limited.
The CoC decided to initiate the liquidation process of the Corporate Debtor on 04.07.2025.
Mr. Sanjay Kumar Gupta was appointed as the liquidator of the Corporate Debtor.
The CoC noted that the amounts offered in each resolution plan were below the average liquidation value.
The Corporate Debtor has remained non-operational for over two years, and the primary manufacturing unit at MIDC Taloja has remained completely shut and non-operational for more than seven years.
…Corporate Insolvency…
Committee of Creditors…