The application IA/483/IB/2020 was filed in IBA/709/2019 under Section 12(2) of the IBC, 2016, read with Regulation 40 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application sought an extension of the CIRP period by 90 days beyond 180 days and confirmation of the appointment of Mr. G. Porselvam as the Resolution Professional. The CIRP was initiated against the Corporate Debtor M/s. SIP Industries Limited on 26.08.2019, and the Applicant was appointed as the IRP. During the 1st CoC Meeting held on 03.10.2019, it was resolved that the Applicant should continue as the Resolution Professional. The CIRP process was initially expected to be completed within 180 days from the commencement date.
The application IA/483/IB/2020 was filed in IBA/709/2019 under Section 12(2) of the IBC, 2016, read with Regulation 40 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The CIRP was initiated against M/s. SIP Industries Limited on 26.08.2019. The applicant was appointed as the IRP. The 1st CoC meeting was held on 03.10.2019, where it was resolved that the applicant should continue as the Resolution Professional. The CIRP process was to be completed within 180 days from 26.08.2019. The application sought an extension of the CIRP period by 90 days beyond 180 days and confirmation of the appointment of Mr. G. Porselvam as the Resolution Professional. The application was filed on 04.03.2020. The COVID-19 pandemic caused delays, as various
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CIRP was initiated…
It was resolved that…
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The application IA/483/IB/2020 was filed in IBA/709/2019 under Section 12(2) of the IBC, 2016, read with Regulation 40 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application sought an extension of the CIRP period by 90 days beyond 180 days and confirmation of the appointment of Mr. G. Porselvam as the Resolution Professional. The CIRP was initiated against the Corporate Debtor M/s. SIP Industries Limited on 26.08.2019, and the Applicant was appointed as the IRP. During the 1st CoC Meeting held on 03.10.2019, it was resolved that the Applicant should continue as the Resolution Professional. The CIRP process was initially expected to be completed within 180 days from the commencement date.
The application IA/483/IB/2020 was filed in IBA/709/2019 under Section 12(2) of the IBC, 2016, read with Regulation 40 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The CIRP was initiated against M/s. SIP Industries Limited on 26.08.2019. The applicant was appointed as the IRP. The 1st CoC meeting was held on 03.10.2019, where it was resolved that the applicant should continue as the Resolution Professional. The CIRP process was to be completed within 180 days from 26.08.2019. The application sought an extension of the CIRP period by 90 days beyond 180 days and confirmation of the appointment of Mr. G. Porselvam as the Resolution Professional. The application was filed on 04.03.2020. The COVID-19 pandemic caused delays, as various
…CIRP was initiated…
It was resolved that…
Sign in to view related legal provisions.