The Corporate Insolvency Resolution Process (CIRP) was initiated against Narmada Cereals Pvt. Ltd. after the petition was admitted on 2020-12-07. Mr. Arun Chadha was initially appointed as the Interim Resolution Professional (IRP), followed by Dr. Vichitra Narayan Pathak as the Resolution Professional (RP). A public announcement was made, and Punjab National Bank was identified as the sole financial creditor. Several CoC meetings were held, and multiple extensions were granted for submission of resolution plans. Despite these efforts, the CoC, exercising its commercial wisdom, rejected all resolution plans, including a revised composite plan submitted by a Resolution Applicant (RA) for Rs. 37 Crores. The CoC also rejected the appointment of the RP as the liquidator.

The Corporate Insolvency Resolution Process (CIRP) was initiated against Narmada Cereals Pvt. Ltd. after the petition was admitted on 2020-12-07. Mr. Arun Chadha was initially appointed as the Interim Resolution Professional (IRP), followed by Dr. Vichitra Narayan Pathak as the Resolution Professional (RP). A public announcement was made, and Punjab National Bank was identified as the sole financial creditor. Several CoC meetings were held, and multiple extensions were granted for submission of resolution plans. Despite these efforts, the CoC, exercising its commercial wisdom, rejected all resolution plans, including a revised composite plan submitted by a Resolution Applicant (RA) for Rs. 37 Crores. The CoC also rejected the appointment of the RP as the liquidator.