The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking an order for liquidation of the Corporate Debtor, M/s. Bhaskar Shrachi Alloys Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by the Operational Creditor, M/s. Damodar Valley Corporation, under Section 9 of the Code. The Adjudicating Authority admitted the petition on September 27, 2019, and appointed Shri Samir Agarwal as the Interim Resolution Professional (IRP).
M/s. Damodar Valley Corporation, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Bhaskar Shrachi Alloys Limited, the Corporate Debtor, by filing a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the petition on September 27, 2019, and appointed Shri Samir Agarwal as the Interim Resolution Professional (IRP). The IRP took over the management and continued the resolution process. An Expression of Interest (EOI) was invited, and one EOI was received, but the applicant withdrew their interest. The Committee of Creditors (CoC) rejected the RP's request to repeat the publication of the EOI and authorized him to file an application for liquidation. The RP filed an
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The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking an order for liquidation of the Corporate Debtor, M/s. Bhaskar Shrachi Alloys Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by the Operational Creditor, M/s. Damodar Valley Corporation, under Section 9 of the Code. The Adjudicating Authority admitted the petition on September 27, 2019, and appointed Shri Samir Agarwal as the Interim Resolution Professional (IRP).
M/s. Damodar Valley Corporation, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Bhaskar Shrachi Alloys Limited, the Corporate Debtor, by filing a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the petition on September 27, 2019, and appointed Shri Samir Agarwal as the Interim Resolution Professional (IRP). The IRP took over the management and continued the resolution process. An Expression of Interest (EOI) was invited, and one EOI was received, but the applicant withdrew their interest. The Committee of Creditors (CoC) rejected the RP's request to repeat the publication of the EOI and authorized him to file an application for liquidation. The RP filed an
…The Adjudicating Authority admitted the Company…
The 180-day period for…