The case pertains to an application (I.A. No. 164 of 2020) filed in an ongoing Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Sagar Power (Neerukate) Private Limited. The CIRP was initiated based on a petition filed by M/s. Pridhvi Asset Reconstruction and Securitisation Company Limited under Section 7 of the IBC, 2016. The Adjudicating Authority admitted the petition on September 27, 2019, appointing Mr. Pankaj Srivastava as the Interim Resolution Professional (IRP), who was later confirmed as the Resolution Professional (RP). The initial 180-day period for the CIRP was to end on March 28, 2020. The RP received two resolution plans by March 14, 2020, but the Committee of Creditors (COC) deemed the initial period insufficient. Therefore, in their
…M/s. Pridhvi Asset Reconstruction and Securitisation Company Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Sagar Power (Neerukate) Private Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on September 27, 2019, and Mr. Pankaj Srivastava was appointed as the Interim Resolution Professional (IRP). He was later confirmed as the Resolution Professional (RP). The initial 180-day period for CIRP was to end on March 28, 2020. The RP received two resolution plans by March 14, 2020. The Committee of Creditors (COC) approved a resolution in their 7th meeting on March 16, 2020, to seek a 90-day extension of the CIRP period because the initial time was insufficient to evolve
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M/s. Pridhvi Asset Reconstruction and…
The Adjudicating Authority admitted the…
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The case pertains to an application (I.A. No. 164 of 2020) filed in an ongoing Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Sagar Power (Neerukate) Private Limited. The CIRP was initiated based on a petition filed by M/s. Pridhvi Asset Reconstruction and Securitisation Company Limited under Section 7 of the IBC, 2016. The Adjudicating Authority admitted the petition on September 27, 2019, appointing Mr. Pankaj Srivastava as the Interim Resolution Professional (IRP), who was later confirmed as the Resolution Professional (RP). The initial 180-day period for the CIRP was to end on March 28, 2020. The RP received two resolution plans by March 14, 2020, but the Committee of Creditors (COC) deemed the initial period insufficient. Therefore, in their
…M/s. Pridhvi Asset Reconstruction and Securitisation Company Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Sagar Power (Neerukate) Private Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on September 27, 2019, and Mr. Pankaj Srivastava was appointed as the Interim Resolution Professional (IRP). He was later confirmed as the Resolution Professional (RP). The initial 180-day period for CIRP was to end on March 28, 2020. The RP received two resolution plans by March 14, 2020. The Committee of Creditors (COC) approved a resolution in their 7th meeting on March 16, 2020, to seek a 90-day extension of the CIRP period because the initial time was insufficient to evolve
…M/s. Pridhvi Asset Reconstruction and…
The Adjudicating Authority admitted the…
Sign in to view related legal provisions.