The case involves an application filed by Deepika Bhugra Prasad, the Resolution Professional of Kanik Electronics Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. Ester Industries Ltd., the Operational Creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against Kanik Electronics by filing an application under Section 9 of the IBC, which was admitted by the Tribunal on 30.09.2019. Ashu Gupta was initially appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) replaced Ashu Gupta with Deepika Bhugra Prasad as the Resolution Professional (RP), confirmed by the Tribunal on 13.01.2020.
Ester Industries Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Kanik Electronics Pvt. Ltd. by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted by the NCLT on 2019-09-30. Initially, Ashu Gupta was appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) replaced Ashu Gupta with Deepika Bhugra Prasad as the Resolution Professional (RP), which was confirmed by the Tribunal on 2020-01-13. Form-G was published on 2019-12-27 to invite Expressions of Interest (EOI), but no EOI was received. The RP suggested re-publication of Form-G, but the CoC did not approve it. The average fair value of the Corporate Debtor
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The Tribunal admitted the application filed by…
The Interim Resolution Professional made a…
The case involves an application filed by Deepika Bhugra Prasad, the Resolution Professional of Kanik Electronics Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. Ester Industries Ltd., the Operational Creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against Kanik Electronics by filing an application under Section 9 of the IBC, which was admitted by the Tribunal on 30.09.2019. Ashu Gupta was initially appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) replaced Ashu Gupta with Deepika Bhugra Prasad as the Resolution Professional (RP), confirmed by the Tribunal on 13.01.2020.
Ester Industries Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Kanik Electronics Pvt. Ltd. by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted by the NCLT on 2019-09-30. Initially, Ashu Gupta was appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) replaced Ashu Gupta with Deepika Bhugra Prasad as the Resolution Professional (RP), which was confirmed by the Tribunal on 2020-01-13. Form-G was published on 2019-12-27 to invite Expressions of Interest (EOI), but no EOI was received. The RP suggested re-publication of Form-G, but the CoC did not approve it. The average fair value of the Corporate Debtor
…The Tribunal admitted the application filed by…
The Interim Resolution Professional made a…