The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for the initiation of the Corporate Insolvency Resolution Process (CIRP) against M/S. Bansal Refineries Private Limited. The application was filed by Corporation Bank, the financial creditor. The CIRP was initiated on August 13, 2019, and Mr. Pinaki Sircar was appointed as the Interim Resolution Professional (IRP).
Corporation Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/S. Bansal Refineries Private Limited. The application was admitted on August 13, 2019, and Pinaki Sircar was appointed as the Interim Resolution Professional. During the CIRP, the RP filed progress reports, and the COC met multiple times. The COC consented to re-publication of Form G and recommended an extension for receiving Expressions of Interest. The admitted claims of the Financial Creditor (Corporation Bank) amounted to Rs. 1,10,72,14,831.70, and the admitted claims of the Operational Creditors amounted to Rs. 1,29,01,378. The RP received valuation reports and a forensic audit report. The CIRP cost till date was Rs. 15,15,943.60. No viable
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Application admitted,…
Resolution Professional…
The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for the initiation of the Corporate Insolvency Resolution Process (CIRP) against M/S. Bansal Refineries Private Limited. The application was filed by Corporation Bank, the financial creditor. The CIRP was initiated on August 13, 2019, and Mr. Pinaki Sircar was appointed as the Interim Resolution Professional (IRP).
Corporation Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/S. Bansal Refineries Private Limited. The application was admitted on August 13, 2019, and Pinaki Sircar was appointed as the Interim Resolution Professional. During the CIRP, the RP filed progress reports, and the COC met multiple times. The COC consented to re-publication of Form G and recommended an extension for receiving Expressions of Interest. The admitted claims of the Financial Creditor (Corporation Bank) amounted to Rs. 1,10,72,14,831.70, and the admitted claims of the Operational Creditors amounted to Rs. 1,29,01,378. The RP received valuation reports and a forensic audit report. The CIRP cost till date was Rs. 15,15,943.60. No viable
…Application admitted,…
Resolution Professional…