The case pertains to IA 58 of 2018 in C.P. (I.B) No. 68/10/NCLT/AHM/2017 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The application was filed under section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, on behalf of the resolution professional, seeking an order for the liquidation of the Corporate Debtor, Metal Holdings India Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) had commenced based on a petition filed by Metal Holdings India Pvt Ltd. under section 10 of the Code, with the appointment of an Interim Resolution Professional (IRP).
Metal Holdings India Pvt Ltd. initiated Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) convened its 6th meeting on February 6, 2018, and resolved to recommend liquidation due to the absence of a viable resolution plan. The 180-day period for the CIRP had expired on February 13, 2018. The resolution professional filed an application under Section 33 of the IBC seeking an order for liquidation. The COC unanimously voted in favor of liquidation. The Adjudicating Authority considered the application and the COC's decision.
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The COC in its 6th…
The 180-day period…
The case pertains to IA 58 of 2018 in C.P. (I.B) No. 68/10/NCLT/AHM/2017 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The application was filed under section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, on behalf of the resolution professional, seeking an order for the liquidation of the Corporate Debtor, Metal Holdings India Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) had commenced based on a petition filed by Metal Holdings India Pvt Ltd. under section 10 of the Code, with the appointment of an Interim Resolution Professional (IRP).
Metal Holdings India Pvt Ltd. initiated Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) convened its 6th meeting on February 6, 2018, and resolved to recommend liquidation due to the absence of a viable resolution plan. The 180-day period for the CIRP had expired on February 13, 2018. The resolution professional filed an application under Section 33 of the IBC seeking an order for liquidation. The COC unanimously voted in favor of liquidation. The Adjudicating Authority considered the application and the COC's decision.
The COC in its 6th…
The 180-day period…