Asis Corporate Advisors Limited filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP) due to financial stress and inability to repay debts.
Asis Corporate Advisors Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Applicant's authorized capital is Rs. 5,00,00,000/- and paid-up capital is Rs. 2,61,20,000/-.
The amount in default and the total debt raised is Rs. 116,11,26,634.56/- as on 25.10.2024 and Rs. 20,00,00,000/- respectively.
The Corporate Applicant passed a resolution on 25 March 2025 to file the application for CIRP.
The Corporate Applicant invested Rs. 43,15,36,230/- in group companies that have undergone CIRP.
The Corporate Applicant has negative net worth and no means to discharge liabilities.
Mr. Devendra Jain is proposed as the Interim Resolution Professional (IRP).
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The Corporate Applicant passed a resolution in…
The Adjudicating Authority admitted the…
Asis Corporate Advisors Limited filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP) due to financial stress and inability to repay debts.
Asis Corporate Advisors Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Applicant's authorized capital is Rs. 5,00,00,000/- and paid-up capital is Rs. 2,61,20,000/-.
The amount in default and the total debt raised is Rs. 116,11,26,634.56/- as on 25.10.2024 and Rs. 20,00,00,000/- respectively.
The Corporate Applicant passed a resolution on 25 March 2025 to file the application for CIRP.
The Corporate Applicant invested Rs. 43,15,36,230/- in group companies that have undergone CIRP.
The Corporate Applicant has negative net worth and no means to discharge liabilities.
Mr. Devendra Jain is proposed as the Interim Resolution Professional (IRP).
The Corporate Applicant passed a resolution in…
The Adjudicating Authority admitted the…