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 it twice. Consequently, the Committee of Creditors (COC) resolved in its 12th meeting to liquidate the Corporate Debtor, with 98.46% voting in favor of liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shakti Refoils & Agro Foods Products Pvt Ltd, with CP(IB) 630 of 2019 being admitted on 2020-01-27. Mr. Navin Khandelwal was initially appointed as the Interim Resolution Professional (IRP). Later, the Applicant was appointed as the Resolution Professional (RP) vide order dated 2020-06-11. Despite publishing the Expression of Interest (EOI) twice, no interest was shown, and no resolution plan was received. The Committee of Creditors (COC) in its 12th meeting held on 2021-01-16, resolved to liquidate the Corporate Debtor with 98.46% voting in favor. The suspended management was issued a notice but remained absent from the COC meeting. The RP, Mr. Ajay Marathe, consented to act as the
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CP(IB) 630 of 2019…
CP(IB) 630 of…
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 it twice. Consequently, the Committee of Creditors (COC) resolved in its 12th meeting to liquidate the Corporate Debtor, with 98.46% voting in favor of liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shakti Refoils & Agro Foods Products Pvt Ltd, with CP(IB) 630 of 2019 being admitted on 2020-01-27. Mr. Navin Khandelwal was initially appointed as the Interim Resolution Professional (IRP). Later, the Applicant was appointed as the Resolution Professional (RP) vide order dated 2020-06-11. Despite publishing the Expression of Interest (EOI) twice, no interest was shown, and no resolution plan was received. The Committee of Creditors (COC) in its 12th meeting held on 2021-01-16, resolved to liquidate the Corporate Debtor with 98.46% voting in favor. The suspended management was issued a notice but remained absent from the COC meeting. The RP, Mr. Ajay Marathe, consented to act as the
…CP(IB) 630 of 2019…
CP(IB) 630 of…