The case involves an application (IA No.3 of 2020) filed by the Resolution Professional in CP(IB) No.277/9/HDB/2019 under sections 33 and 34 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking an order for liquidation of the Corporate Debtor, Om Shakti Renergies. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 16.09.2019, and Shri Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) and later as Resolution Professional. A public announcement for CIRP initiation was made on 20.09.2019. An appeal against the admission order was dismissed by the NCLAT on 07.02.2020. The Resolution Professional filed memos with liquidation value and valuation reports of the Corporate Debtor. The Committee of Creditors
…Om Shakti Renergies Limited was undergoing Corporate Insolvency Resolution Process (CIRP) under CP(IB) No.277/9/HDB/2019. The petition was admitted on 16.09.2019, and Shri Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) and later as Resolution Professional. A public announcement for CIRP initiation was made on 20.09.2019. An appeal against the admission order was dismissed by the NCLAT on 07.02.2020. The Resolution Professional filed memos with liquidation value and valuation reports of the Corporate Debtor. The Committee of Creditors (CoC) decided for liquidation based on a Techno Economic Viability Report dated 31.10.2019, which indicated that finding purchasers for the plant equipment was difficult and the existing tariff structure would
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The Tribunal admitted the petition, allowing the…
Resolution Professional…
The case involves an application (IA No.3 of 2020) filed by the Resolution Professional in CP(IB) No.277/9/HDB/2019 under sections 33 and 34 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking an order for liquidation of the Corporate Debtor, Om Shakti Renergies. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 16.09.2019, and Shri Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) and later as Resolution Professional. A public announcement for CIRP initiation was made on 20.09.2019. An appeal against the admission order was dismissed by the NCLAT on 07.02.2020. The Resolution Professional filed memos with liquidation value and valuation reports of the Corporate Debtor. The Committee of Creditors
…Om Shakti Renergies Limited was undergoing Corporate Insolvency Resolution Process (CIRP) under CP(IB) No.277/9/HDB/2019. The petition was admitted on 16.09.2019, and Shri Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) and later as Resolution Professional. A public announcement for CIRP initiation was made on 20.09.2019. An appeal against the admission order was dismissed by the NCLAT on 07.02.2020. The Resolution Professional filed memos with liquidation value and valuation reports of the Corporate Debtor. The Committee of Creditors (CoC) decided for liquidation based on a Techno Economic Viability Report dated 31.10.2019, which indicated that finding purchasers for the plant equipment was difficult and the existing tariff structure would
…The Tribunal admitted the petition, allowing the…
Resolution Professional…