The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Isolux Corsan India Engineering & Construction Private Limited. The CIRP was initiated following a petition filed by Oriental Bank of Commerce under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2018-10-11. Vikram Kumar was appointed as the Resolution Professional (RP). Despite issuing invitations for Expression of Interest, no resolution plan was received within the stipulated time. The Committee of Creditors (CoC) convened several meetings, including the 14th meeting on 2019-11-08, where it was decided that Isolux should be liquidated as per Section 33(1)(a) of the Code. The CoC also discussed the appointment of a Liquidator but did not approve the
…Oriental Bank of Commerce, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Isolux Corsan India Engineering & Construction Private Limited (Isolux). The CIRP was admitted on 2018-10-11. Vikram Kumar was appointed as the Resolution Professional (RP). Invitations for Expression of Interest were issued, but no resolution plan was received by the deadline. The Committee of Creditors (CoC) convened on 2019-11-08, deciding to liquidate Isolux under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016. The CoC did not approve the appointment of a Liquidator or the associated fees. The RP, Vikram Kumar, did not submit his written consent to act as a Liquidator under Section 34(1) of the Code. The Adjudicating Authority (AA)
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Petition under Section 7 of the Code filed by…
In the second meeting of the Committee of…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Isolux Corsan India Engineering & Construction Private Limited. The CIRP was initiated following a petition filed by Oriental Bank of Commerce under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2018-10-11. Vikram Kumar was appointed as the Resolution Professional (RP). Despite issuing invitations for Expression of Interest, no resolution plan was received within the stipulated time. The Committee of Creditors (CoC) convened several meetings, including the 14th meeting on 2019-11-08, where it was decided that Isolux should be liquidated as per Section 33(1)(a) of the Code. The CoC also discussed the appointment of a Liquidator but did not approve the
…Oriental Bank of Commerce, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Isolux Corsan India Engineering & Construction Private Limited (Isolux). The CIRP was admitted on 2018-10-11. Vikram Kumar was appointed as the Resolution Professional (RP). Invitations for Expression of Interest were issued, but no resolution plan was received by the deadline. The Committee of Creditors (CoC) convened on 2019-11-08, deciding to liquidate Isolux under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016. The CoC did not approve the appointment of a Liquidator or the associated fees. The RP, Vikram Kumar, did not submit his written consent to act as a Liquidator under Section 34(1) of the Code. The Adjudicating Authority (AA)
…Petition under Section 7 of the Code filed by…
In the second meeting of the Committee of…