The case involves an application (IA/81/CHE/2021) filed by the Resolution Professional of Coastal Energy Private Limited under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period. Another application (IA/318/CHE/2021) was filed under Section 33(2) of the IBC, 2016, seeking an order for the liquidation of the Corporate Debtor. The CIRP was initiated following a Section 7 application filed by a Financial Creditor, and Mr. S. Rajagopal was initially appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement under Section 15 of the IBC, and claims totaling Rs.1679 Crore were received, with Rs.971 Crore admitted. The Committee of Creditors (CoC) was
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Coastal Energy Private Limited following a Section 7 application filed by a Financial Creditor. Mr. S. Rajagopal was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims. Claims totaling Rs.1679 Crore were received, with Rs.971 Crore admitted. A Committee of Creditors (CoC) was constituted. Ramakrishnan Sadasivan was appointed as the Resolution Professional. The CoC attempted to find a resolution applicant by issuing multiple Expressions of Interest (EoIs), but none were successful. One prospective Resolution Applicant, M/s. RKG Fund, submitted an Expression of Interest but did not meet the eligibility criteria. The CoC, in its 13th
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Tribunal passed order in IBA/624/2019…
Public announcement in…
The case involves an application (IA/81/CHE/2021) filed by the Resolution Professional of Coastal Energy Private Limited under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period. Another application (IA/318/CHE/2021) was filed under Section 33(2) of the IBC, 2016, seeking an order for the liquidation of the Corporate Debtor. The CIRP was initiated following a Section 7 application filed by a Financial Creditor, and Mr. S. Rajagopal was initially appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement under Section 15 of the IBC, and claims totaling Rs.1679 Crore were received, with Rs.971 Crore admitted. The Committee of Creditors (CoC) was
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Coastal Energy Private Limited following a Section 7 application filed by a Financial Creditor. Mr. S. Rajagopal was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims. Claims totaling Rs.1679 Crore were received, with Rs.971 Crore admitted. A Committee of Creditors (CoC) was constituted. Ramakrishnan Sadasivan was appointed as the Resolution Professional. The CoC attempted to find a resolution applicant by issuing multiple Expressions of Interest (EoIs), but none were successful. One prospective Resolution Applicant, M/s. RKG Fund, submitted an Expression of Interest but did not meet the eligibility criteria. The CoC, in its 13th
…Tribunal passed order in IBA/624/2019…
Public announcement in…