The Corporate Insolvency Resolution Process (CIRP) for Siddhi Vinayak Logistic Limited was initiated on September 12, 2017, by Punjab National Bank. Mr. Dushyant C Dave was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Subsequently, the Corporate Debtor was ordered into liquidation on November 19, 2018, with Mr. Dushyant C Dave appointed as the Liquidator. The Liquidator faced challenges including the attachment of assets by the Enforcement Directorate (ED) under the PMLA, leading to initial dismissal of the dissolution application due to unrelinquished secured assets held by State Bank of India (SBI).
CP(IB) No. 89/NCLT/AHM/2017 was filed by Punjab National Bank under Section 7 of the IBC, 2016, against Siddhi Vinayak Logistic Limited.
The Corporate Debtor was admitted by NCLT, Ahmedabad Bench, on 12.09.2017, initiating CIRP.
Mr. Dushyant C Dave (IBBI registration no. IBBI/IPA-N00061/2017-2018/10502) was appointed as Interim Resolution Professional and later confirmed as Resolution Professional.
The Resolution Professional filed an application under Section 33 of the IBC, 2016, seeking liquidation of the Corporate Debtor.
The liquidation application was allowed by the Tribunal on 19.11.2018, appointing Mr. Dushyant C Dave as the Liquidator.
The Liquidator made a public announcement in Form B on 24.11.2018 in Business Standard and Sandesh.
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Corporate Insolvency Resolution Process (CIRP)…
The Tribunal allowed the application for…
The Corporate Insolvency Resolution Process (CIRP) for Siddhi Vinayak Logistic Limited was initiated on September 12, 2017, by Punjab National Bank. Mr. Dushyant C Dave was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Subsequently, the Corporate Debtor was ordered into liquidation on November 19, 2018, with Mr. Dushyant C Dave appointed as the Liquidator. The Liquidator faced challenges including the attachment of assets by the Enforcement Directorate (ED) under the PMLA, leading to initial dismissal of the dissolution application due to unrelinquished secured assets held by State Bank of India (SBI).
CP(IB) No. 89/NCLT/AHM/2017 was filed by Punjab National Bank under Section 7 of the IBC, 2016, against Siddhi Vinayak Logistic Limited.
The Corporate Debtor was admitted by NCLT, Ahmedabad Bench, on 12.09.2017, initiating CIRP.
Mr. Dushyant C Dave (IBBI registration no. IBBI/IPA-N00061/2017-2018/10502) was appointed as Interim Resolution Professional and later confirmed as Resolution Professional.
The Resolution Professional filed an application under Section 33 of the IBC, 2016, seeking liquidation of the Corporate Debtor.
The liquidation application was allowed by the Tribunal on 19.11.2018, appointing Mr. Dushyant C Dave as the Liquidator.
The Liquidator made a public announcement in Form B on 24.11.2018 in Business Standard and Sandesh.
…Corporate Insolvency Resolution Process (CIRP)…
The Tribunal allowed the application for…