The case involves an application by the Liquidator of Sabre Helmets Private Limited (Corporate Debtor) under Sections 54 and 60 (5) of the Insolvency & Bankruptcy Code, 2016, seeking dissolution of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated following a Company Petition under Section 9 of the Code. The CIRP was admitted on 22.02.2019, and an Interim Resolution Professional (IRP) was appointed. Public announcements were made, and claims were received from creditors. The Committee of Creditors (CoC) was formed and confirmed the IRP as the Resolution Professional (RP).
The Corporate Debtor, Sabre Helmets Private Limited, faced Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was admitted on 22.02.2019, leading to the appointment of an Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The IRP constituted a Committee of Creditors (CoC). However, the Corporate Debtor had no fixed assets, inventory, or stock, and its operations had been discontinued since FY 2014-2015. The CoC resolved to liquidate the Corporate Debtor. The RP filed an application for liquidation, which was allowed, and a liquidator was appointed. The liquidator did not constitute a Stakeholders Consultation Committee (SCC) due to the absence
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The Company Petition seeking Corporate…
The Interim Resolution Professional (IRP)…
The case involves an application by the Liquidator of Sabre Helmets Private Limited (Corporate Debtor) under Sections 54 and 60 (5) of the Insolvency & Bankruptcy Code, 2016, seeking dissolution of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated following a Company Petition under Section 9 of the Code. The CIRP was admitted on 22.02.2019, and an Interim Resolution Professional (IRP) was appointed. Public announcements were made, and claims were received from creditors. The Committee of Creditors (CoC) was formed and confirmed the IRP as the Resolution Professional (RP).
The Corporate Debtor, Sabre Helmets Private Limited, faced Corporate Insolvency Resolution Process (CIRP) initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was admitted on 22.02.2019, leading to the appointment of an Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors. The IRP constituted a Committee of Creditors (CoC). However, the Corporate Debtor had no fixed assets, inventory, or stock, and its operations had been discontinued since FY 2014-2015. The CoC resolved to liquidate the Corporate Debtor. The RP filed an application for liquidation, which was allowed, and a liquidator was appointed. The liquidator did not constitute a Stakeholders Consultation Committee (SCC) due to the absence
…The Company Petition seeking Corporate…
The Interim Resolution Professional (IRP)…