SECL Industries Pvt. Ltd. initiated CIRP under Section 10 of the IBC. The petition was admitted on 2017-10-25, and a moratorium was declared. Alok Kaushik was initially appointed as the Interim Resolution Professional on 2017-11-03, but was later replaced by Amandeep Singh on 2017-12-29. The suspended directors of SECL Industries were uncooperative, and the CIRP could not be completed within 180 days. The company was not an ongoing concern, and its assets had been sold under securitization. No resolution plan was received, leading the COC to resolve for liquidation on 2018-07-19. Amandeep Singh consented to act as the liquidator. The key fact is that the company was not viable and no resolution plan was received, leading to the liquidation order.

SECL Industries Pvt. Ltd. initiated CIRP under Section 10 of the IBC. The petition was admitted on 2017-10-25, and a moratorium was declared. Alok Kaushik was initially appointed as the Interim Resolution Professional on 2017-11-03, but was later replaced by Amandeep Singh on 2017-12-29. The suspended directors of SECL Industries were uncooperative, and the CIRP could not be completed within 180 days. The company was not an ongoing concern, and its assets had been sold under securitization. No resolution plan was received, leading the COC to resolve for liquidation on 2018-07-19. Amandeep Singh consented to act as the liquidator. The key fact is that the company was not viable and no resolution plan was received, leading to the liquidation order.