The case involves an application filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking directions for the liquidation of the corporate debtor, Ajit Automotive Service Private Limited. An operational creditor, M/S Dynamic Security, had previously filed an application under Section 9 of the IBC for initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, which was admitted on 19.08.2019. Mr. Mohinder Singh was appointed as the Interim Resolution Professional (IRP). Subsequently, the CoC decided to replace the IRP with Mr. Rohit Sehgal as the RP.
M/S Dynamic Security, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Ajit Automotive Service Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 19.08.2019, and Mr. Mohinder Singh was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Rohit Sehgal replaced Mr. Mohinder Singh as the Resolution Professional (RP). Despite two rounds of inviting Expression of Interest, no prospective resolution applicant showed interest. The Committee of Creditors (CoC) deliberated and decided to liquidate the corporate debtor due to the absence of any resolution plan. The CoC passed resolutions for liquidation and for the sale of the corporate debtor as a going
…Sign in to view the parties.
Application under Section 9 of the IBC filed…
The CoC decided to replace the IRP with Mr.…
The case involves an application filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking directions for the liquidation of the corporate debtor, Ajit Automotive Service Private Limited. An operational creditor, M/S Dynamic Security, had previously filed an application under Section 9 of the IBC for initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, which was admitted on 19.08.2019. Mr. Mohinder Singh was appointed as the Interim Resolution Professional (IRP). Subsequently, the CoC decided to replace the IRP with Mr. Rohit Sehgal as the RP.
M/S Dynamic Security, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Ajit Automotive Service Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 19.08.2019, and Mr. Mohinder Singh was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Rohit Sehgal replaced Mr. Mohinder Singh as the Resolution Professional (RP). Despite two rounds of inviting Expression of Interest, no prospective resolution applicant showed interest. The Committee of Creditors (CoC) deliberated and decided to liquidate the corporate debtor due to the absence of any resolution plan. The CoC passed resolutions for liquidation and for the sale of the corporate debtor as a going
…Application under Section 9 of the IBC filed…
The CoC decided to replace the IRP with Mr.…