Asset Reconstruction Company (India) Limited, a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Corporate Power Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Pankaj Dhanuka was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, comprising eight financial creditors. The RP received seven Expressions of Interest (EOIs) but no resolution plan was approved by the CoC within the CIRP period. One resolution plan was received from Vedanta Limited but it was non-compliant with the provisions of the Code. The CIRP period

Asset Reconstruction Company (India) Limited, a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Corporate Power Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Pankaj Dhanuka was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, comprising eight financial creditors. The RP received seven Expressions of Interest (EOIs) but no resolution plan was approved by the CoC within the CIRP period. One resolution plan was received from Vedanta Limited but it was non-compliant with the provisions of the Code. The CIRP period