The case involves an Interlocutory Application (IA No. 284/2019) filed by the Resolution Professional under Section 33(1)(a) and 34(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor, Atlantic Spinning and Weaving Mills Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition filed by a Financial Creditor under Section 7 of the IBC. The Resolution Professional was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). Public announcements were made as required under Section 15 of the IBC. The Committee of Creditors (CoC) was formed, and several meetings were held to consider resolution plans. Garg
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Atlantic Spinning and Weaving Mills Limited based on a petition filed by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Shaik Gouse was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, comprising six members. Several CoC meetings were held to evaluate potential resolution plans. Garg Industries submitted a resolution plan, but the CoC found it inadequate, citing concerns about the amount offered to creditors and the financial credibility of the Resolution Applicant. The CoC also
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IRP made Public Announcement as required…
The last date for…
The case involves an Interlocutory Application (IA No. 284/2019) filed by the Resolution Professional under Section 33(1)(a) and 34(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor, Atlantic Spinning and Weaving Mills Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition filed by a Financial Creditor under Section 7 of the IBC. The Resolution Professional was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). Public announcements were made as required under Section 15 of the IBC. The Committee of Creditors (CoC) was formed, and several meetings were held to consider resolution plans. Garg
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Atlantic Spinning and Weaving Mills Limited based on a petition filed by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Shaik Gouse was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, comprising six members. Several CoC meetings were held to evaluate potential resolution plans. Garg Industries submitted a resolution plan, but the CoC found it inadequate, citing concerns about the amount offered to creditors and the financial credibility of the Resolution Applicant. The CoC also
…IRP made Public Announcement as required…
The last date for…