The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for the liquidation of the corporate debtor, Satkar Air Cargo Services Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by the financial creditor, Mr. Ravinder Pal Singh Lamba, under Section 7 of the Code. The application was admitted on 09.08.2019. The Interim Resolution Professional (IRP), Mr. Gyaneshwar Sahai, was appointed. The IRP invited claims from creditors and constituted a Committee of Creditors (CoC) comprising Mr. Ravinder Pal Singh Lamba as the sole member.
The financial creditor, Mr. Ravinder Pal Singh Lamba, filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, Satkar Air Cargo Services Private Limited. The application was admitted on 09.08.2019. Mr. Gyaneshwar Sahai was appointed as the Interim Resolution Professional (IRP). The IRP invited claims from creditors and formed a Committee of Creditors (CoC) consisting solely of Mr. Ravinder Pal Singh Lamba. During the CIRP, it was found that the company had no major assets and its existence as a going concern was doubtful. The only asset was an Alto Car with an outstanding loan. The CoC decided to write off most assets and then resolved to liquidate the
…Sign in to view the parties.
Company Petition No.…
Application under Section 7 of the Code was…
The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for the liquidation of the corporate debtor, Satkar Air Cargo Services Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by the financial creditor, Mr. Ravinder Pal Singh Lamba, under Section 7 of the Code. The application was admitted on 09.08.2019. The Interim Resolution Professional (IRP), Mr. Gyaneshwar Sahai, was appointed. The IRP invited claims from creditors and constituted a Committee of Creditors (CoC) comprising Mr. Ravinder Pal Singh Lamba as the sole member.
The financial creditor, Mr. Ravinder Pal Singh Lamba, filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, Satkar Air Cargo Services Private Limited. The application was admitted on 09.08.2019. Mr. Gyaneshwar Sahai was appointed as the Interim Resolution Professional (IRP). The IRP invited claims from creditors and formed a Committee of Creditors (CoC) consisting solely of Mr. Ravinder Pal Singh Lamba. During the CIRP, it was found that the company had no major assets and its existence as a going concern was doubtful. The only asset was an Alto Car with an outstanding loan. The CoC decided to write off most assets and then resolved to liquidate the
…Company Petition No.…
Application under Section 7 of the Code was…