The Corporate Insolvency Resolution Process (CIRP) was initiated by the Tribunal after admitting a Company Application. Mr. Atanu Mukherjee was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Anil Kohli was appointed as the Resolution Professional (RP) following an application by the Committee of Creditors (COC). During a hearing, the Tribunal was informed that the COC recommended liquidation with over 75% of the financial creditors in agreement. ICICI Bank Limited, a financial creditor, had no objection to the liquidation. An application was filed by one of the Financial Creditors, and Bank of India claimed to be the lead banker. The assets of the Corporate Debtor (CD) are mixed with those of Shiv Vani Oil & Gas Exploration Services Ltd.

The Corporate Insolvency Resolution Process (CIRP) was initiated by the Tribunal after admitting a Company Application. Mr. Atanu Mukherjee was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Anil Kohli was appointed as the Resolution Professional (RP) following an application by the Committee of Creditors (COC). During a hearing, the Tribunal was informed that the COC recommended liquidation with over 75% of the financial creditors in agreement. ICICI Bank Limited, a financial creditor, had no objection to the liquidation. An application was filed by one of the Financial Creditors, and Bank of India claimed to be the lead banker. The assets of the Corporate Debtor (CD) are mixed with those of Shiv Vani Oil & Gas Exploration Services Ltd.