Berger Paints India Limited, an operational creditor, filed an application under Section 9 of the I&B Code, 2016, on April 4, 2017, to initiate the Corporate Insolvency Resolution Process (CIRP) against Precision Engineers & Fabricators Private Limited, the corporate debtor. Mr. Rasik Singhania was appointed as the Interim Resolution Professional (IRP) and later as the Liquidator on October 22, 2018. The CIRP commenced on October 22, 2018, and public announcements were made on November 5, 2018, in newspapers, indicating the corporate debtor had entered liquidation.

Berger Paints India Limited, an operational creditor, filed an application under Section 9 of the I&B Code, 2016, on April 4, 2017, to initiate the Corporate Insolvency Resolution Process (CIRP) against Precision Engineers & Fabricators Private Limited, the corporate debtor. Mr. Rasik Singhania was appointed as the Interim Resolution Professional (IRP) and later as the Liquidator on October 22, 2018. The CIRP commenced on October 22, 2018, and public announcements were made on November 5, 2018, in newspapers, indicating the corporate debtor had entered liquidation.