The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code (IBC) seeking an order for the liquidation of the Corporate Debtor, Shiv Cotgin Pvt Ltd. The Corporate Debtor had initiated the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC, and an Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) in its third meeting resolved to recommend liquidation as no resolution plan was received.
Shiv Cotgin Pvt Ltd. initiated CIRP under Section 10 of the IBC, leading to the appointment of an IRP. The COC, in its third meeting on 2018-02-16, resolved to recommend liquidation due to the absence of any resolution plan. The 180-day CIRP period expired on 2018-02-17. The RP filed an application under Section 33(2) of the IBC seeking a liquidation order. No response was received to the expression of interest for resolution. The COC members unanimously voted in favor of liquidation. The RP, Manoj Gangwal, was to continue as liquidator.
Sign in to view the parties.
The COC in its third meeting resolved to…
The 180-day period…
Sign in to view related legal provisions.
The case involves an application filed by the Resolution Professional (RP) under Section 33(2) of the Insolvency and Bankruptcy Code (IBC) seeking an order for the liquidation of the Corporate Debtor, Shiv Cotgin Pvt Ltd. The Corporate Debtor had initiated the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC, and an Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) in its third meeting resolved to recommend liquidation as no resolution plan was received.
Shiv Cotgin Pvt Ltd. initiated CIRP under Section 10 of the IBC, leading to the appointment of an IRP. The COC, in its third meeting on 2018-02-16, resolved to recommend liquidation due to the absence of any resolution plan. The 180-day CIRP period expired on 2018-02-17. The RP filed an application under Section 33(2) of the IBC seeking a liquidation order. No response was received to the expression of interest for resolution. The COC members unanimously voted in favor of liquidation. The RP, Manoj Gangwal, was to continue as liquidator.
The COC in its third meeting resolved to…
The 180-day period…
Sign in to view related legal provisions.