The case involves an application (IA No. 113 of 2019) filed by the Resolution Professional (RP) of ABG Shipyard Limited under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order to liquidate the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by ICICI Bank under Section 7 of the Code. The RP was appointed and made a public announcement, inviting claims from creditors. The RP received Expression of Interests (EOIs) from prospective resolution applicants, but ultimately, only one resolution applicant, Liberty House Group (LHG), submitted a plan. This plan was later disqualified. A second bid process was initiated, but again, LHG was the sole applicant. The Committee of Creditors
…ICICI Bank initiated Corporate Insolvency Resolution Process (CIRP) against ABG Shipyard Limited by filing CP(IB)No. 53/2017 under Section 7 of the Insolvency and Bankruptcy Code (IBC). Sundaresh Bhat was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP invited Expression of Interests (EOIs) from prospective resolution applicants. Liberty House Group (LHG) was the sole resolution applicant in the first bid process but was disqualified. A second bid process also resulted in LHG being the sole applicant. The Committee of Creditors (CoC) approved the liquidation of ABG Shipyard Limited with 84.63% of the votes. Several Interlocutory Applications (IAs) were filed during the CIRP, addressing issues such
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The Adjudicating Authority admitted the Company…
The Resolution Professional made a public…
The case involves an application (IA No. 113 of 2019) filed by the Resolution Professional (RP) of ABG Shipyard Limited under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order to liquidate the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by ICICI Bank under Section 7 of the Code. The RP was appointed and made a public announcement, inviting claims from creditors. The RP received Expression of Interests (EOIs) from prospective resolution applicants, but ultimately, only one resolution applicant, Liberty House Group (LHG), submitted a plan. This plan was later disqualified. A second bid process was initiated, but again, LHG was the sole applicant. The Committee of Creditors
…ICICI Bank initiated Corporate Insolvency Resolution Process (CIRP) against ABG Shipyard Limited by filing CP(IB)No. 53/2017 under Section 7 of the Insolvency and Bankruptcy Code (IBC). Sundaresh Bhat was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP invited Expression of Interests (EOIs) from prospective resolution applicants. Liberty House Group (LHG) was the sole resolution applicant in the first bid process but was disqualified. A second bid process also resulted in LHG being the sole applicant. The Committee of Creditors (CoC) approved the liquidation of ABG Shipyard Limited with 84.63% of the votes. Several Interlocutory Applications (IAs) were filed during the CIRP, addressing issues such
…The Adjudicating Authority admitted the Company…
The Resolution Professional made a public…