The case involves an application filed by the resolution professional seeking an order for liquidation under section 33(2) of the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by IDBI Bank Ltd. (Financial Creditor) under section 7 of the Code, with the appointment of an Interim Resolution Professional (IRP). The Committee of Creditors (COC) in its third meeting held on 2018-01-10 resolved that a resolution plan was not feasible for the corporate debtor and decided to proceed with liquidation, replacing the existing Resolution Professional (RP) with Mr. Abhishek Nagori as the liquidator. The Adjudicating Authority had previously rejected a request for extension of time for the CIRP.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Asian Natural Resources (India) Ltd. based on a petition filed by IDBI Bank Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) convened and, in its third meeting on 2018-01-10, concluded that a resolution plan was not viable. Consequently, the COC resolved to proceed with liquidation. The COC also decided to replace the existing Resolution Professional (RP), Mr. Anshuman Chaturvedi, due to his unwillingness to continue as liquidator in the liquidation process. The COC recommended Mr. Abhishek Nagori as the new liquidator. The IBBI approved a panel of Insolvency Professionals, including Mr.
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The Adjudicating Authority rejected the…
IBBI by its letter dated 2018-01-01 addressed to…
The case involves an application filed by the resolution professional seeking an order for liquidation under section 33(2) of the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by IDBI Bank Ltd. (Financial Creditor) under section 7 of the Code, with the appointment of an Interim Resolution Professional (IRP). The Committee of Creditors (COC) in its third meeting held on 2018-01-10 resolved that a resolution plan was not feasible for the corporate debtor and decided to proceed with liquidation, replacing the existing Resolution Professional (RP) with Mr. Abhishek Nagori as the liquidator. The Adjudicating Authority had previously rejected a request for extension of time for the CIRP.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Asian Natural Resources (India) Ltd. based on a petition filed by IDBI Bank Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) convened and, in its third meeting on 2018-01-10, concluded that a resolution plan was not viable. Consequently, the COC resolved to proceed with liquidation. The COC also decided to replace the existing Resolution Professional (RP), Mr. Anshuman Chaturvedi, due to his unwillingness to continue as liquidator in the liquidation process. The COC recommended Mr. Abhishek Nagori as the new liquidator. The IBBI approved a panel of Insolvency Professionals, including Mr.
…The Adjudicating Authority rejected the…
IBBI by its letter dated 2018-01-01 addressed to…