The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor, Shakti Refoils & Agro Foods Products Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed. Subsequently, the Applicant was appointed as the Resolution Professional (RP). Despite efforts to find a resolution plan, no Expression of Interest (EOI) was received even after publishing EOI twice. The Committee of Creditors (COC) resolved to liquidate the Corporate Debtor with a 98.46% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shakti Refoils & Agro Foods Products Pvt Ltd. An Interim Resolution Professional (IRP) was initially appointed, followed by the appointment of the Applicant as the Resolution Professional (RP). Despite efforts to find a resolution plan, no Expression of Interest (EOI) was received even after publishing EOI twice. The Committee of Creditors (COC) resolved to liquidate the Corporate Debtor with a 98.46% voting share. Notice was issued to the Suspended Management, but no one appeared. The RP has given his consent to act as Liquidator. The COC's decision to liquidate was based on their commercial wisdom, considering factors leading to the maximization of asset value. The Adjudicating Authority is
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The matter of record…
C.P. (I.B) No.…
The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor, Shakti Refoils & Agro Foods Products Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed. Subsequently, the Applicant was appointed as the Resolution Professional (RP). Despite efforts to find a resolution plan, no Expression of Interest (EOI) was received even after publishing EOI twice. The Committee of Creditors (COC) resolved to liquidate the Corporate Debtor with a 98.46% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shakti Refoils & Agro Foods Products Pvt Ltd. An Interim Resolution Professional (IRP) was initially appointed, followed by the appointment of the Applicant as the Resolution Professional (RP). Despite efforts to find a resolution plan, no Expression of Interest (EOI) was received even after publishing EOI twice. The Committee of Creditors (COC) resolved to liquidate the Corporate Debtor with a 98.46% voting share. Notice was issued to the Suspended Management, but no one appeared. The RP has given his consent to act as Liquidator. The COC's decision to liquidate was based on their commercial wisdom, considering factors leading to the maximization of asset value. The Adjudicating Authority is
…The matter of record…
C.P. (I.B) No.…