Sankar Panicker
Prior to introduction of the concept of Authorised Representative, the meeting of the CoC was held in big auditorium, with over 300 individuals attending for the first CIRP case of a Chit Company in the state of Kerala in 2017.
Now the IBC has evolved, with Authorised Representative (AR) representing the Class of Creditors, breaking the geographical barriers by attending online. The company had a natural death of liquidation as there no assets and the business model required legal compliance, which none was interested.
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