The case involves an application filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, A.B.M. Concrete Pvt. Ltd., and the appointment of a Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by the Financial Creditor, Oriental Bank of Commerce, under Section 7 of the IBC, 2016. The Interim Resolution Professional (IRP) was appointed, and a public announcement was made. The Committee of Creditors (CoC) was constituted, but the Corporate Debtor remained in default of statutory filings, and only one claim was verified due to the absence of Financial Statements.
The Resolution Professional (RP) filed an application under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of A.B.M. Concrete Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application by Oriental Bank of Commerce under Section 7 of the IBC, 2016. Mr. Aditya Agarwal was appointed as the Interim Resolution Professional (IRP). The directors/officers of the Corporate Debtor were uncooperative. The Committee of Creditors (CoC) meetings had low attendance, with only Oriental Bank of Commerce attending the second meeting. No resolution plan was received despite efforts to appoint valuers and publish an Expression of Interest (EOI). The Corporate Debtor was in default of statutory filings, and only one
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The Bench admitted the application for…
Verified c…
The case involves an application filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, A.B.M. Concrete Pvt. Ltd., and the appointment of a Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by the Financial Creditor, Oriental Bank of Commerce, under Section 7 of the IBC, 2016. The Interim Resolution Professional (IRP) was appointed, and a public announcement was made. The Committee of Creditors (CoC) was constituted, but the Corporate Debtor remained in default of statutory filings, and only one claim was verified due to the absence of Financial Statements.
The Resolution Professional (RP) filed an application under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of A.B.M. Concrete Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application by Oriental Bank of Commerce under Section 7 of the IBC, 2016. Mr. Aditya Agarwal was appointed as the Interim Resolution Professional (IRP). The directors/officers of the Corporate Debtor were uncooperative. The Committee of Creditors (CoC) meetings had low attendance, with only Oriental Bank of Commerce attending the second meeting. No resolution plan was received despite efforts to appoint valuers and publish an Expression of Interest (EOI). The Corporate Debtor was in default of statutory filings, and only one
…The Bench admitted the application for…
Verified c…