The case involves an application (IA No. 603/2020) filed by the Resolution Professional under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period for Ind Barath Power Global Gencom Ltd, the Corporate Debtor. The CIRP was initiated on 2019-11-13, and Mr. Rajesh Chillale was appointed as the IRP and later confirmed as RP. A public announcement was made on 2019-11-15, with a deadline of 2019-11-27 for creditors to submit claims. The initial deadline for submitting a resolution plan was 2020-04-15, which was later extended to 2020-07-06 due to the COVID-19 lockdown. Prospective resolution applicants faced travel restrictions, hindering site verification.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Ind Barath Power Global Gencom Ltd on 2019-11-13. Rajesh Chillale was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made on 2019-11-15, setting 2019-11-27 as the last date for creditors to submit claims. The initial deadline for submitting a resolution plan was 2020-04-15, which was later extended to 2020-07-06 due to the COVID-19 lockdown. Prospective resolution applicants, Sherisha Technologies Pvt Ltd and Coastal Agro Industries Ltd, faced travel restrictions in Tamil Nadu, hindering site verification. The Committee of Creditors (COC) unanimously approved an extension of the CIRP period in their meeting
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The case involves an application (IA No. 603/2020) filed by the Resolution Professional under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period for Ind Barath Power Global Gencom Ltd, the Corporate Debtor. The CIRP was initiated on 2019-11-13, and Mr. Rajesh Chillale was appointed as the IRP and later confirmed as RP. A public announcement was made on 2019-11-15, with a deadline of 2019-11-27 for creditors to submit claims. The initial deadline for submitting a resolution plan was 2020-04-15, which was later extended to 2020-07-06 due to the COVID-19 lockdown. Prospective resolution applicants faced travel restrictions, hindering site verification.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Ind Barath Power Global Gencom Ltd on 2019-11-13. Rajesh Chillale was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made on 2019-11-15, setting 2019-11-27 as the last date for creditors to submit claims. The initial deadline for submitting a resolution plan was 2020-04-15, which was later extended to 2020-07-06 due to the COVID-19 lockdown. Prospective resolution applicants, Sherisha Technologies Pvt Ltd and Coastal Agro Industries Ltd, faced travel restrictions in Tamil Nadu, hindering site verification. The Committee of Creditors (COC) unanimously approved an extension of the CIRP period in their meeting
…CIRP started…
Public announ…