The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional seeking an order for liquidation and appointment of a liquidator for the Corporate Debtor, Shashi Oils & Fats Pvt. Ltd. The CIRP was initiated based on a petition filed by a financial creditor under Section 7 of the Code, with an order dated 2019-01-10. Sarvesh Kashyap was appointed as the Interim Resolution Professional and later confirmed as the RP by the COC on 2019-02-12.
The Resolution Professional filed an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Shashi Oils & Fats Pvt. Ltd. The CIRP was initiated based on a financial creditor's petition under Section 7 of the Code. Sarvesh Kashyap was appointed as the Interim Resolution Professional and later confirmed as the RP. Aastha Garments submitted a resolution plan, which was rejected by the COC due to adverse observations in the Forensic Auditor's Report and concerns about commercial feasibility. The COC also considered other resolution plans, including one from M/s Rafia & Company, which was not compliant with the Code, and one from the promoters/directors of the Corporate Debtor, who were unwilling to
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The Adjudicating Authority initiated the CIRP in…
Sarvesh Kashyap was…
The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional seeking an order for liquidation and appointment of a liquidator for the Corporate Debtor, Shashi Oils & Fats Pvt. Ltd. The CIRP was initiated based on a petition filed by a financial creditor under Section 7 of the Code, with an order dated 2019-01-10. Sarvesh Kashyap was appointed as the Interim Resolution Professional and later confirmed as the RP by the COC on 2019-02-12.
The Resolution Professional filed an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Shashi Oils & Fats Pvt. Ltd. The CIRP was initiated based on a financial creditor's petition under Section 7 of the Code. Sarvesh Kashyap was appointed as the Interim Resolution Professional and later confirmed as the RP. Aastha Garments submitted a resolution plan, which was rejected by the COC due to adverse observations in the Forensic Auditor's Report and concerns about commercial feasibility. The COC also considered other resolution plans, including one from M/s Rafia & Company, which was not compliant with the Code, and one from the promoters/directors of the Corporate Debtor, who were unwilling to
…The Adjudicating Authority initiated the CIRP in…
Sarvesh Kashyap was…