The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor (CD), G.R.S. Ispat Company Private Limited. The Operational Creditor, Shipyard Co., had initially filed an application under Section 9 of the Code for initiating Corporate Insolvency Resolution Process (CIRP) against the CD, which was admitted on 28.11.2019. The Interim Resolution Professional (IRP) was appointed, and a Committee of Creditors (CoC) was constituted.
Shipyard Co., an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against G.R.S. Ispat Company Private Limited, the Corporate Debtor (CD), by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 2019-11-28, leading to the appointment of Mr. Navjit Singh as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). The CoC, in its fourth meeting, decided to liquidate the CD, finding no feasibility or viability in continuing with CIRP. The RP then filed an application for liquidation, which was approved by the CoC with 100% voting shares. Mr. Saket Saroha, a suspended director of the CD, did not raise any objection
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Application under…
The first meeting of…
The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor (CD), G.R.S. Ispat Company Private Limited. The Operational Creditor, Shipyard Co., had initially filed an application under Section 9 of the Code for initiating Corporate Insolvency Resolution Process (CIRP) against the CD, which was admitted on 28.11.2019. The Interim Resolution Professional (IRP) was appointed, and a Committee of Creditors (CoC) was constituted.
Shipyard Co., an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against G.R.S. Ispat Company Private Limited, the Corporate Debtor (CD), by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 2019-11-28, leading to the appointment of Mr. Navjit Singh as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). The CoC, in its fourth meeting, decided to liquidate the CD, finding no feasibility or viability in continuing with CIRP. The RP then filed an application for liquidation, which was approved by the CoC with 100% voting shares. Mr. Saket Saroha, a suspended director of the CD, did not raise any objection
…Application under…
The first meeting of…