The case involves multiple applications (IA Nos. 1790/2019, 2087/2019, 2305/2019, 2246/2019, 2415/2019, 619/2020, 2214/2020) related to the Corporate Insolvency Resolution Process (CIRP) of Marmagoa Steel Ltd. The CIRP was initiated on 20.03.2017, and Mr. Pravin Navandar was appointed as the IRP. A resolution plan was approved on 02.07.2018, but the Resolution Applicant expressed inability to implement it, filing IA No. 619/2020. The applications under consideration are for the liquidation of the Corporate Debtor.
The Corporate Insolvency Resolution Process (CIRP) of Marmagoa Steel Ltd. was initiated on 20.03.2017, with Mr. Pravin Navandar appointed as the Interim Resolution Professional (IRP). A resolution plan was approved by the bench on 02.07.2018. However, the Resolution Applicant subsequently filed IA No. 619 of 2020, expressing its inability to implement the resolution plan due to reasons beyond its control. Consequently, applications (IA Nos. 1790/2019, 2305/2019, and 2415/2019) were filed seeking the liquidation of the Corporate Debtor. These applications were filed by Asset Reconstruction Company (India) Ltd, Pridhvi Asset Reconstruction and Securitization Company Ltd, and MSTC respectively. The court found no objection to the liquidation and proceeded to order it. The
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Corporate Insolvency…
Mr. Pravin Navandar was appointed as the…
The case involves multiple applications (IA Nos. 1790/2019, 2087/2019, 2305/2019, 2246/2019, 2415/2019, 619/2020, 2214/2020) related to the Corporate Insolvency Resolution Process (CIRP) of Marmagoa Steel Ltd. The CIRP was initiated on 20.03.2017, and Mr. Pravin Navandar was appointed as the IRP. A resolution plan was approved on 02.07.2018, but the Resolution Applicant expressed inability to implement it, filing IA No. 619/2020. The applications under consideration are for the liquidation of the Corporate Debtor.
The Corporate Insolvency Resolution Process (CIRP) of Marmagoa Steel Ltd. was initiated on 20.03.2017, with Mr. Pravin Navandar appointed as the Interim Resolution Professional (IRP). A resolution plan was approved by the bench on 02.07.2018. However, the Resolution Applicant subsequently filed IA No. 619 of 2020, expressing its inability to implement the resolution plan due to reasons beyond its control. Consequently, applications (IA Nos. 1790/2019, 2305/2019, and 2415/2019) were filed seeking the liquidation of the Corporate Debtor. These applications were filed by Asset Reconstruction Company (India) Ltd, Pridhvi Asset Reconstruction and Securitization Company Ltd, and MSTC respectively. The court found no objection to the liquidation and proceeded to order it. The
…Corporate Insolvency…
Mr. Pravin Navandar was appointed as the…