The case pertains to an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Ess Dee Aluminium Limited, due to the non-approval of a resolution plan by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016. Deepika Bhugra Prasad was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Ess Dee Aluminium Limited. Deepika Bhugra Prasad was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP). A public announcement was made on 20.02.2020, inviting claims, with a deadline of 02.03.2020. The Committee of Creditors (CoC) was duly constituted with nine financial creditors. The RP received five Expressions of Interest (EOIs), but only one resolution plan was submitted by Molisati Vinimay Private Limited. This plan was presented to the CoC on 20.04.2021 but was rejected by a vote of 84.78%. Consequently, the RP filed an
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The case pertains to an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Ess Dee Aluminium Limited, due to the non-approval of a resolution plan by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016. Deepika Bhugra Prasad was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Ess Dee Aluminium Limited. Deepika Bhugra Prasad was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP). A public announcement was made on 20.02.2020, inviting claims, with a deadline of 02.03.2020. The Committee of Creditors (CoC) was duly constituted with nine financial creditors. The RP received five Expressions of Interest (EOIs), but only one resolution plan was submitted by Molisati Vinimay Private Limited. This plan was presented to the CoC on 20.04.2021 but was rejected by a vote of 84.78%. Consequently, the RP filed an
…The Adjudicating Authority ordered the…
Public announcement was made in various…
Sign in to view related legal provisions.