The case involves an application filed under section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, regarding M/s. D SRM Steels Private Limited. The Resolution Professional (RP), Mr. C. Ramasubramaniam, representing the Corporate Debtor, sought liquidation. The Corporate Debtor was admitted into CIRP on 2018-10-30, and the applicant was appointed as IRP. The RP received claims of Rs. 57,04,41,194.59 from the Financial Creditor, City Union Bank Limited, holding 100% voting rights. The RP appointed three Registered Valuers to value the assets. An Expression of Interest (EOI) was issued in newspapers on 2019-01-11. As no resolution plan was received by 2019-03-12, the CoC passed a resolution for liquidation on 2019-04-11 and appointed the applicant as Liquidator.
M/s. D SRM Steels Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). The application for CIRP was admitted on 2018-10-30, and an Interim Resolution Professional (IRP) was appointed. Subsequently, the Committee of Creditors (CoC) appointed Mr. C. Ramasubramaniam as the Resolution Professional (RP) on 2018-11-28. The RP received claims amounting to Rs. 57,04,41,194.59 from City Union Bank Limited, the Financial Creditor with 100% voting rights. The RP appointed registered valuers to assess the company's assets. An Expression of Interest (EOI) was published in newspapers on 2019-01-11. However, no resolution plan was received by the deadline of 2019-03-12. Consequently, the CoC resolved for liquidation on 2019-04-11. The CoC appointed the
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The application for…
Mr. C. Ramasubramaniam…
The case involves an application filed under section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, regarding M/s. D SRM Steels Private Limited. The Resolution Professional (RP), Mr. C. Ramasubramaniam, representing the Corporate Debtor, sought liquidation. The Corporate Debtor was admitted into CIRP on 2018-10-30, and the applicant was appointed as IRP. The RP received claims of Rs. 57,04,41,194.59 from the Financial Creditor, City Union Bank Limited, holding 100% voting rights. The RP appointed three Registered Valuers to value the assets. An Expression of Interest (EOI) was issued in newspapers on 2019-01-11. As no resolution plan was received by 2019-03-12, the CoC passed a resolution for liquidation on 2019-04-11 and appointed the applicant as Liquidator.
M/s. D SRM Steels Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). The application for CIRP was admitted on 2018-10-30, and an Interim Resolution Professional (IRP) was appointed. Subsequently, the Committee of Creditors (CoC) appointed Mr. C. Ramasubramaniam as the Resolution Professional (RP) on 2018-11-28. The RP received claims amounting to Rs. 57,04,41,194.59 from City Union Bank Limited, the Financial Creditor with 100% voting rights. The RP appointed registered valuers to assess the company's assets. An Expression of Interest (EOI) was published in newspapers on 2019-01-11. However, no resolution plan was received by the deadline of 2019-03-12. Consequently, the CoC resolved for liquidation on 2019-04-11. The CoC appointed the
…The application for…
Mr. C. Ramasubramaniam…