The case involves an application filed by the Resolution Professional seeking liquidation of Sixth Dimension Project Solutions Ltd. The application was based on the ground that no resolution plan was received. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed, followed by a Resolution Professional (RP). The Committee of Creditors (CoC) decided to appoint Mr. Santanu T. Ray as RP, but the application for approval was initially dismissed. The NCLAT later appointed Mr. Santanu T. Ray as RP and extended the CIRP period. Despite efforts, the resolution plan received was not acceptable to the
…Ms. Rama Subramanian, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Sixth Dimension Project Solution Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). Mr. S. Gopalakrishnan was initially appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) decided to appoint Mr. Santanu T. Ray as the Resolution Professional (RP). The NCLAT later appointed Mr. Santanu T. Ray as RP and extended the CIRP period. A public announcement of the CIRP initiation was made on 2018-10-14. An invitation for Expression of Interest (EoI) was published on 2019-09-26. Only one resolution plan was received from M/s. Arth Rural Connect Services Pvt. Ltd. and Cornerstone Interiors LLC (Jointly),
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Adjudicating Authority directed initiation…
Public announcement of…
The case involves an application filed by the Resolution Professional seeking liquidation of Sixth Dimension Project Solutions Ltd. The application was based on the ground that no resolution plan was received. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed, followed by a Resolution Professional (RP). The Committee of Creditors (CoC) decided to appoint Mr. Santanu T. Ray as RP, but the application for approval was initially dismissed. The NCLAT later appointed Mr. Santanu T. Ray as RP and extended the CIRP period. Despite efforts, the resolution plan received was not acceptable to the
…Ms. Rama Subramanian, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Sixth Dimension Project Solution Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). Mr. S. Gopalakrishnan was initially appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) decided to appoint Mr. Santanu T. Ray as the Resolution Professional (RP). The NCLAT later appointed Mr. Santanu T. Ray as RP and extended the CIRP period. A public announcement of the CIRP initiation was made on 2018-10-14. An invitation for Expression of Interest (EoI) was published on 2019-09-26. Only one resolution plan was received from M/s. Arth Rural Connect Services Pvt. Ltd. and Cornerstone Interiors LLC (Jointly),
…Adjudicating Authority directed initiation…
Public announcement of…