The CIRP against Kanishk Gold Pvt. Ltd. was initiated by the State Bank of India under Section 7 of the IBC, 2016, vide order dated 2020-01-22. The Applicant was appointed as the Interim Resolution Professional. A public announcement was made, and 14 financial creditors filed claims. The first CoC meeting was held on 2020-02-24, where the IRP was confirmed as the RP. Subsequent CoC meetings were held to discuss the resolution process, including the publication of EOI. Despite efforts, no resolution plan was received. The Corporate Debtor's unit remained closed for over two years. The CoC resolved to file for liquidation under section 33(2) of the IBC, 2016. The CoC fixed the remuneration of the Liquidator at 65% of fee as per Regulation 4 (2) (b) of the IBC

The CIRP against Kanishk Gold Pvt. Ltd. was initiated by the State Bank of India under Section 7 of the IBC, 2016, vide order dated 2020-01-22. The Applicant was appointed as the Interim Resolution Professional. A public announcement was made, and 14 financial creditors filed claims. The first CoC meeting was held on 2020-02-24, where the IRP was confirmed as the RP. Subsequent CoC meetings were held to discuss the resolution process, including the publication of EOI. Despite efforts, no resolution plan was received. The Corporate Debtor's unit remained closed for over two years. The CoC resolved to file for liquidation under section 33(2) of the IBC, 2016. The CoC fixed the remuneration of the Liquidator at 65% of fee as per Regulation 4 (2) (b) of the IBC