The case involves an application filed by the Resolution Professional (RP) seeking liquidation of Sanjay Strips Private Limited, the Corporate Debtor, under the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by an Operational Creditor, which was admitted on 2017-11-13. The Committee of Creditors (CoC) resolved to initiate liquidation during their meeting on 2018-03-22, as no resolution plan was filed or efforts made to create one. The CIRP period of 180 days expired on 2018-05-12.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Sanjay Strips Private Limited following an application by an Operational Creditor, which was admitted on 2017-11-13. The Resolution Professional (RP) was appointed. The Committee of Creditors (CoC) convened and, during their third meeting held on 2018-03-22, resolved to initiate the liquidation process. The CIRP period of 180 days expired on 2018-05-12. No resolution plan was filed, and the RP and CoC made no effort to formulate one. The RP then filed an application seeking liquidation. Notice was served to the Corporate Debtor and its promoters, but they did not appear before the Tribunal. The CoC passed a resolution to proceed with liquidation. The Tribunal noted the expiry of the CIRP period,
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The application filed by an Operational…
The Committee of Creditors (CoC) resolved to…
The case involves an application filed by the Resolution Professional (RP) seeking liquidation of Sanjay Strips Private Limited, the Corporate Debtor, under the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by an Operational Creditor, which was admitted on 2017-11-13. The Committee of Creditors (CoC) resolved to initiate liquidation during their meeting on 2018-03-22, as no resolution plan was filed or efforts made to create one. The CIRP period of 180 days expired on 2018-05-12.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Sanjay Strips Private Limited following an application by an Operational Creditor, which was admitted on 2017-11-13. The Resolution Professional (RP) was appointed. The Committee of Creditors (CoC) convened and, during their third meeting held on 2018-03-22, resolved to initiate the liquidation process. The CIRP period of 180 days expired on 2018-05-12. No resolution plan was filed, and the RP and CoC made no effort to formulate one. The RP then filed an application seeking liquidation. Notice was served to the Corporate Debtor and its promoters, but they did not appear before the Tribunal. The CoC passed a resolution to proceed with liquidation. The Tribunal noted the expiry of the CIRP period,
…The application filed by an Operational…
The Committee of Creditors (CoC) resolved to…