The case involves an application (IA 179 of 2020) filed by the Resolution Professional (RP) in Company Petition (IB) No. 200 of 2019, seeking liquidation of the Corporate Debtor, M/s Ashapuri Metals Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by an Operational Creditor, Mr. Alkesh Govindbhai Patel, under Section 9 of the Insolvency and Bankruptcy Code (IB Code). The RP, Mr. Kailash T Shah, was initially appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided to continue with the IRP as RP. The CoC later resolved to liquidate the Corporate Debtor with 100% voting in its 4th meeting held on 24.12.2019.
Mr. Alkesh Govindbhai Patel, an Operational Creditor, filed CP(IB)No. 200 of 2019 against M/s. Ashapuri Metals Private Limited, the Corporate Debtor, under Section 9 of the IB Code, seeking initiation of CIRP. The Adjudicating Authority admitted the application. Mr. Kailash T Shah was appointed as the Interim Resolution Professional (IRP) vide order dated 05.07.2019. The Committee of Creditors (CoC) decided to continue the IRP as RP in its first meeting held on 17.08.2019. In the 4th CoC meeting held on 24.12.2019, the CoC decided to waive the requirement of issuing an Expression of Interest for inviting Resolution Applicants due to the lack of activities in the company. In the same meeting, the CoC passed a resolution with 100% voting to liquidate the Corporate Debtor
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Mr. Kailash T Shah…
Committee of Creditors…
The case involves an application (IA 179 of 2020) filed by the Resolution Professional (RP) in Company Petition (IB) No. 200 of 2019, seeking liquidation of the Corporate Debtor, M/s Ashapuri Metals Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by an Operational Creditor, Mr. Alkesh Govindbhai Patel, under Section 9 of the Insolvency and Bankruptcy Code (IB Code). The RP, Mr. Kailash T Shah, was initially appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided to continue with the IRP as RP. The CoC later resolved to liquidate the Corporate Debtor with 100% voting in its 4th meeting held on 24.12.2019.
Mr. Alkesh Govindbhai Patel, an Operational Creditor, filed CP(IB)No. 200 of 2019 against M/s. Ashapuri Metals Private Limited, the Corporate Debtor, under Section 9 of the IB Code, seeking initiation of CIRP. The Adjudicating Authority admitted the application. Mr. Kailash T Shah was appointed as the Interim Resolution Professional (IRP) vide order dated 05.07.2019. The Committee of Creditors (CoC) decided to continue the IRP as RP in its first meeting held on 17.08.2019. In the 4th CoC meeting held on 24.12.2019, the CoC decided to waive the requirement of issuing an Expression of Interest for inviting Resolution Applicants due to the lack of activities in the company. In the same meeting, the CoC passed a resolution with 100% voting to liquidate the Corporate Debtor
…Mr. Kailash T Shah…
Committee of Creditors…