The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, based on a resolution passed by the Committee of Creditors (CoC) on 17.12.2019 for the liquidation of the Corporate Debtor, Ms. General Power Company Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed on 02.07.2019. The IRP issued a public announcement inviting claims from creditors on 06.07.2019. The CoC was constituted, and in its first meeting on 24.07.2019, the IRP was appointed as RP. The RP appointed two valuers to assess the liquidation value, which was determined to be around 6 crores. Despite issuing invitations for resolution plans,
…Punjab National Bank initiated CIRP against Ms. General Power Company Pvt. Ltd. The company petition was admitted on 02.07.2019, and Mr. Subraveti Krishna was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement on 06.07.2019, inviting claims from creditors. The Committee of Creditors (CoC) was constituted, and in its first meeting on 24.07.2019, the IRP was appointed as the Resolution Professional (RP). The RP appointed two valuers to assess the liquidation value of the Corporate Debtor, which was determined to be approximately 6 crores. The CoC issued Form-G twice, inviting resolution plans, but only one resolution applicant expressed interest. The RP issued an information memorandum and request for a resolution plan, but the
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Company petition…
IRP issued public…
The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, based on a resolution passed by the Committee of Creditors (CoC) on 17.12.2019 for the liquidation of the Corporate Debtor, Ms. General Power Company Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed on 02.07.2019. The IRP issued a public announcement inviting claims from creditors on 06.07.2019. The CoC was constituted, and in its first meeting on 24.07.2019, the IRP was appointed as RP. The RP appointed two valuers to assess the liquidation value, which was determined to be around 6 crores. Despite issuing invitations for resolution plans,
…Punjab National Bank initiated CIRP against Ms. General Power Company Pvt. Ltd. The company petition was admitted on 02.07.2019, and Mr. Subraveti Krishna was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement on 06.07.2019, inviting claims from creditors. The Committee of Creditors (CoC) was constituted, and in its first meeting on 24.07.2019, the IRP was appointed as the Resolution Professional (RP). The RP appointed two valuers to assess the liquidation value of the Corporate Debtor, which was determined to be approximately 6 crores. The CoC issued Form-G twice, inviting resolution plans, but only one resolution applicant expressed interest. The RP issued an information memorandum and request for a resolution plan, but the
…Company petition…
IRP issued public…