Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Arcee Ispat Udyog Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 30.08.2017, and a moratorium was declared. Jalesh Kumar Grover was appointed as the Interim Resolution Professional (IRP) and later ratified as the Resolution Professional (RP). The initial CIRP period expired on 26.02.2018, and an extension of 90 days was granted. The RP submitted a resolution plan by Alexis Marketing LLP, which was approved by the Committee of Creditors (COC). The COC comprised only Punjab National Bank with 100% voting share.
Punjab National Bank (PNB) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Arcee Ispat Udyog Limited, the Corporate Debtor. The application was admitted on 30.08.2017, and a moratorium was declared. Jalesh Kumar Grover was appointed as the Interim Resolution Professional (IRP) on 07.09.2017 and later ratified as the Resolution Professional (RP). The initial CIRP period of 180 days expired on 26.02.2018, and an extension of 90 days was granted on 01.03.2018. The RP submitted a resolution plan by Alexis Marketing LLP, which was approved by the Committee of Creditors (COC) on 25.05.2018. The COC comprised only Punjab National Bank with 100% voting share. The liquidation
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Application under…
Jalesh Kumar Grover…
Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Arcee Ispat Udyog Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 30.08.2017, and a moratorium was declared. Jalesh Kumar Grover was appointed as the Interim Resolution Professional (IRP) and later ratified as the Resolution Professional (RP). The initial CIRP period expired on 26.02.2018, and an extension of 90 days was granted. The RP submitted a resolution plan by Alexis Marketing LLP, which was approved by the Committee of Creditors (COC). The COC comprised only Punjab National Bank with 100% voting share.
Punjab National Bank (PNB) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Arcee Ispat Udyog Limited, the Corporate Debtor. The application was admitted on 30.08.2017, and a moratorium was declared. Jalesh Kumar Grover was appointed as the Interim Resolution Professional (IRP) on 07.09.2017 and later ratified as the Resolution Professional (RP). The initial CIRP period of 180 days expired on 26.02.2018, and an extension of 90 days was granted on 01.03.2018. The RP submitted a resolution plan by Alexis Marketing LLP, which was approved by the Committee of Creditors (COC) on 25.05.2018. The COC comprised only Punjab National Bank with 100% voting share. The liquidation
…Application under…
Jalesh Kumar Grover…