The case involves an application filed under Section 33 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of a liquidation process for Air Odisha Aviation Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 27.09.2019. The Interim Resolution Professional (IRP), Mr. Manoj Kumar Jain, was appointed. He later expressed his inability to continue due to health reasons. The Committee of Creditors (CoC) then decided to proceed with the liquidation of the Corporate Debtor due to the failure of a settlement agreement and the Corporate Debtor's inactivity.
1. An application was filed under Section 33 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, for initiating the liquidation process of Air Odisha Aviation Private Limited.
2. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against Air Odisha Aviation Private Limited on 27.09.2019.
3. Mr. Manoj Kumar Jain was appointed as the Interim Resolution Professional (IRP).
4. The IRP received only one claim from Sangeeta Aviation Services Pvt. Ltd, the Financial Creditor.
5. The IRP informed the Committee of Creditors (CoC) about his inability to continue as the Resolution Professional due to health issues.
6. A settlement agreement dated 10.12.2019 between the Financial Creditor and the Corporate Debtor failed because a
Sign in to view the parties.
The Adjudicating Authority initiated the…
The Interim Resolution Professional (IRP) made a…
The case involves an application filed under Section 33 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of a liquidation process for Air Odisha Aviation Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 27.09.2019. The Interim Resolution Professional (IRP), Mr. Manoj Kumar Jain, was appointed. He later expressed his inability to continue due to health reasons. The Committee of Creditors (CoC) then decided to proceed with the liquidation of the Corporate Debtor due to the failure of a settlement agreement and the Corporate Debtor's inactivity.
1. An application was filed under Section 33 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, for initiating the liquidation process of Air Odisha Aviation Private Limited.
2. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against Air Odisha Aviation Private Limited on 27.09.2019.
3. Mr. Manoj Kumar Jain was appointed as the Interim Resolution Professional (IRP).
4. The IRP received only one claim from Sangeeta Aviation Services Pvt. Ltd, the Financial Creditor.
5. The IRP informed the Committee of Creditors (CoC) about his inability to continue as the Resolution Professional due to health issues.
6. A settlement agreement dated 10.12.2019 between the Financial Creditor and the Corporate Debtor failed because a
The Adjudicating Authority initiated the…
The Interim Resolution Professional (IRP) made a…