The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, Sarash Exports Services Private Limited. Additionally, another application, IA 4559/ND/2021, was filed by the same applicant for the appointment of Mr. Umesh Chand Goyal as the Liquidator of the Corporate Debtor. The operational creditor had previously filed an application under Section 9 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, which was admitted by the Tribunal on 30.09.2019. The CIRP period was extended due to a nationwide lockdown. The CoC resolved to initiate liquidation proceedings as no resolution
…Ashtbhuj Ocean Movers Pvt. Ltd., the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Sarash Exports Services Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 30.09.2019. Mr. Rajeev Raizada was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). Due to a nationwide lockdown, the CIRP period was extended. The CoC decided to appoint a new Resolution Professional, replacing the previous one. The CoC resolved to initiate liquidation proceedings as no resolution plan was received after the publication of Form-G. The CoC approved the appointment of Mr. Umesh Chand Goyal
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Application under Section 9 of the Code was…
6th meeting of CoC where the erstwhile…
The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, Sarash Exports Services Private Limited. Additionally, another application, IA 4559/ND/2021, was filed by the same applicant for the appointment of Mr. Umesh Chand Goyal as the Liquidator of the Corporate Debtor. The operational creditor had previously filed an application under Section 9 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, which was admitted by the Tribunal on 30.09.2019. The CIRP period was extended due to a nationwide lockdown. The CoC resolved to initiate liquidation proceedings as no resolution
…Ashtbhuj Ocean Movers Pvt. Ltd., the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Sarash Exports Services Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 30.09.2019. Mr. Rajeev Raizada was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). Due to a nationwide lockdown, the CIRP period was extended. The CoC decided to appoint a new Resolution Professional, replacing the previous one. The CoC resolved to initiate liquidation proceedings as no resolution plan was received after the publication of Form-G. The CoC approved the appointment of Mr. Umesh Chand Goyal
…Application under Section 9 of the Code was…
6th meeting of CoC where the erstwhile…