The case involves two connected applications, CA No. 85/2019 and CA No. 322/2019, which were disposed of through a common order. CA No. 85/2019 was filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking directions for the liquidation of the Corporate Debtor, M/s Shamken Spinners Limited, and the appointment of a liquidator. The Corporate Debtor had been admitted into the Corporate Insolvency Resolution Process (CIRP) by an order dated May 29, 2018. The RP, initially appointed as an Interim Resolution Professional (IRP), conducted the CIRP according to the IBC and CIRP Regulations, 2016.
…The Corporate Debtor, M/s Shamken Spinners Limited, was admitted into the Corporate Insolvency Resolution Process (CIRP) by an order of the Adjudicating Authority dated May 29, 2018. The Resolution Professional (RP) was initially appointed as an Interim Resolution Professional (IRP) and conducted the CIRP in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 and the CIRP Regulations, 2016.
The Information Memorandum was approved by the Committee of Creditors (CoC) in its meeting held on August 7, 2018. Following this approval, Form-G was published, setting the last date for the submission of a Resolution Plan as October 12, 2018. In response, three Expressions of Interest (EOIs) were received from prospective Resolution Applicants.
…The Corporate Debtor was admitted into…
The Information…
The case involves two connected applications, CA No. 85/2019 and CA No. 322/2019, which were disposed of through a common order. CA No. 85/2019 was filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking directions for the liquidation of the Corporate Debtor, M/s Shamken Spinners Limited, and the appointment of a liquidator. The Corporate Debtor had been admitted into the Corporate Insolvency Resolution Process (CIRP) by an order dated May 29, 2018. The RP, initially appointed as an Interim Resolution Professional (IRP), conducted the CIRP according to the IBC and CIRP Regulations, 2016.
…The Corporate Debtor, M/s Shamken Spinners Limited, was admitted into the Corporate Insolvency Resolution Process (CIRP) by an order of the Adjudicating Authority dated May 29, 2018. The Resolution Professional (RP) was initially appointed as an Interim Resolution Professional (IRP) and conducted the CIRP in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 and the CIRP Regulations, 2016.
The Information Memorandum was approved by the Committee of Creditors (CoC) in its meeting held on August 7, 2018. Following this approval, Form-G was published, setting the last date for the submission of a Resolution Plan as October 12, 2018. In response, three Expressions of Interest (EOIs) were received from prospective Resolution Applicants.
…The Corporate Debtor was admitted into…
The Information…