The application was filed by Mr. Mohit Chawla, the Resolution Professional of Sahil Spintex Private Limited, seeking the initiation of liquidation proceedings under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.
The Financial Creditor, State Bank of India, initiated CIRP against Sahil Spintex Private Limited under Section 7 of the IBC.
Mr. Mohit Chawla was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
The IRP made a public announcement of the CIRP on 03.11.2022.
The Committee of Creditors (CoC) consisted of two financial creditors: State Bank of India and Punjab National Bank.
The CoC decided to re-publish Form G after the initial publication did not yield any resolution plans.
The CIRP period was extended by 90 days by the Adjudicating Authority.
No resolution plans were received despite the extension of the deadline.
The CoC resolved with 100% voting to liquidate the Corporate Debtor.
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CP (IB) No. 50/CHD/PB/2020 filed by State Bank…
Tribunal admitted the application vide Order…
The application was filed by Mr. Mohit Chawla, the Resolution Professional of Sahil Spintex Private Limited, seeking the initiation of liquidation proceedings under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.
The Financial Creditor, State Bank of India, initiated CIRP against Sahil Spintex Private Limited under Section 7 of the IBC.
Mr. Mohit Chawla was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
The IRP made a public announcement of the CIRP on 03.11.2022.
The Committee of Creditors (CoC) consisted of two financial creditors: State Bank of India and Punjab National Bank.
The CoC decided to re-publish Form G after the initial publication did not yield any resolution plans.
The CIRP period was extended by 90 days by the Adjudicating Authority.
No resolution plans were received despite the extension of the deadline.
The CoC resolved with 100% voting to liquidate the Corporate Debtor.
…CP (IB) No. 50/CHD/PB/2020 filed by State Bank…
Tribunal admitted the application vide Order…