The case involves Gati Kintetsu Express and Mew Suspensions. The CIRP period of 180 days was completed on August 20, 2019. The Resolution Professional (RP) submitted that no resolution plan was received, and there was no cooperation from the corporate debtor. The Committee of Creditors (CoC) in its meeting on August 20, 2019, resolved not to seek an extension of the CIRP period under section 12 of the IBC.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Gati Kintetsu Express. The CIRP period of 180 days concluded on August 20, 2019. The Resolution Professional (RP) reported that no resolution plan was received, and the corporate debtor did not cooperate. The Committee of Creditors (CoC) held a meeting on August 20, 2019, and resolved not to apply for an extension of the CIRP period under section 12 of the Insolvency and Bankruptcy Code (IBC). The RP expressed unwillingness to continue with the liquidation process due to personal reasons. The lack of a resolution plan and the CoC's decision led the court to order the liquidation of the corporate debtor.
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The Committee of Creditors (CoC) held a meeting…
The CIRP perio…
The case involves Gati Kintetsu Express and Mew Suspensions. The CIRP period of 180 days was completed on August 20, 2019. The Resolution Professional (RP) submitted that no resolution plan was received, and there was no cooperation from the corporate debtor. The Committee of Creditors (CoC) in its meeting on August 20, 2019, resolved not to seek an extension of the CIRP period under section 12 of the IBC.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Gati Kintetsu Express. The CIRP period of 180 days concluded on August 20, 2019. The Resolution Professional (RP) reported that no resolution plan was received, and the corporate debtor did not cooperate. The Committee of Creditors (CoC) held a meeting on August 20, 2019, and resolved not to apply for an extension of the CIRP period under section 12 of the Insolvency and Bankruptcy Code (IBC). The RP expressed unwillingness to continue with the liquidation process due to personal reasons. The lack of a resolution plan and the CoC's decision led the court to order the liquidation of the corporate debtor.
The Committee of Creditors (CoC) held a meeting…
The CIRP perio…