The application was preferred by the Resolution Professional (RP), Mr. Ashwani Kumar Gupta, seeking liquidation of the Corporate Debtor (CD) under Sections 33 and 34 of the Insolvency & Bankruptcy Code (IBC) 2016. The main company petition was admitted on 25.1.2018 at the instance of an Operational Creditor (OC), leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Mr. Amar Nath Kukreja was appointed as the Interim Resolution Professional (IRP). A public announcement was issued on 7.2.2018, inviting claims from the creditors of the CD. The Committee of Creditors (COC) was constituted on 5.3.2018.
Columbia Petrochem Pvt. Ltd. is the Corporate Debtor. R.G. Steels is the Operational Creditor. Petrolube India Limited is the Corporate Debtor. An application was filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor under Sections 33 and 34 of the Insolvency & Bankruptcy Code (IBC) 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated after the admission of the main company petition on 25.1.2018. The Committee of Creditors (COC) was constituted on 5.3.2018. The COC attempted to resolve the insolvency by reducing the net worth criteria and providing an opportunity to the promoter of the CD to submit a better Resolution Plan. The resolution plans submitted by the applicants did not meet the expectations of the COC,
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The application was preferred by the Resolution Professional (RP), Mr. Ashwani Kumar Gupta, seeking liquidation of the Corporate Debtor (CD) under Sections 33 and 34 of the Insolvency & Bankruptcy Code (IBC) 2016. The main company petition was admitted on 25.1.2018 at the instance of an Operational Creditor (OC), leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Mr. Amar Nath Kukreja was appointed as the Interim Resolution Professional (IRP). A public announcement was issued on 7.2.2018, inviting claims from the creditors of the CD. The Committee of Creditors (COC) was constituted on 5.3.2018.
Columbia Petrochem Pvt. Ltd. is the Corporate Debtor. R.G. Steels is the Operational Creditor. Petrolube India Limited is the Corporate Debtor. An application was filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor under Sections 33 and 34 of the Insolvency & Bankruptcy Code (IBC) 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated after the admission of the main company petition on 25.1.2018. The Committee of Creditors (COC) was constituted on 5.3.2018. The COC attempted to resolve the insolvency by reducing the net worth criteria and providing an opportunity to the promoter of the CD to submit a better Resolution Plan. The resolution plans submitted by the applicants did not meet the expectations of the COC,
…The main company…
A public announcement…