The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency & Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Poscho Steels Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was conducted in accordance with the provisions of the Code. The RP did not receive any expression of interest after issuing Form G. The Committee of Creditors (CoC), with Punjab National Bank as the sole Financial Creditor, decided in its meeting on June 1, 2020, with a 100% voting share, to liquidate the Corporate Debtor.
The Resolution Professional (RP) filed an application under Section 33 of the Insolvency & Bankruptcy Code, 2016, seeking liquidation of Poscho Steels Pvt Ltd, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was conducted in accordance with the provisions of the Code. After issuing Form G, the RP did not receive any expression of interest. The Committee of Creditors (CoC), consisting solely of Punjab National Bank as the Financial Creditor, decided in a meeting held on June 1, 2020, with a 100% voting share, to liquidate the Corporate Debtor. The CoC decided to appoint the present Resolution Professional as the Liquidator and fixed a fee of Rs. 50,000 per month for the Liquidator and another Rs. 50,000 for liquidation expenses. The
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The Committee of Creditors (CoC), with…
The NCLT issued an order allowing the…
The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency & Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Poscho Steels Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was conducted in accordance with the provisions of the Code. The RP did not receive any expression of interest after issuing Form G. The Committee of Creditors (CoC), with Punjab National Bank as the sole Financial Creditor, decided in its meeting on June 1, 2020, with a 100% voting share, to liquidate the Corporate Debtor.
The Resolution Professional (RP) filed an application under Section 33 of the Insolvency & Bankruptcy Code, 2016, seeking liquidation of Poscho Steels Pvt Ltd, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was conducted in accordance with the provisions of the Code. After issuing Form G, the RP did not receive any expression of interest. The Committee of Creditors (CoC), consisting solely of Punjab National Bank as the Financial Creditor, decided in a meeting held on June 1, 2020, with a 100% voting share, to liquidate the Corporate Debtor. The CoC decided to appoint the present Resolution Professional as the Liquidator and fixed a fee of Rs. 50,000 per month for the Liquidator and another Rs. 50,000 for liquidation expenses. The
…The Committee of Creditors (CoC), with…
The NCLT issued an order allowing the…