The case involves an application filed by the Liquidator under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, seeking substantive consolidation of the Corporate Debtor (Sona Alloys Pvt. Ltd.) and Respondents Nos. 2-6 into a single proceeding for the purpose of CIRP. The application was filed in light of separate CIRP proceedings initiated against the Corporate Debtor and the Respondents. The Operational Creditor, P & M associates LLP, had filed an application under section 9 of the IB Code against Sona Alloys, and another petition was filed by Noble Resources. CIRP was initiated against Ganga Advisory Pvt. Ltd. and Neuromed Imaging Centre Pvt. Ltd. under section 7 of the IB Code.
P & M Associates LLP, an operational creditor, initiated CIRP against Sona Alloys Pvt. Ltd. under Section 9 of the IB Code. Noble Resources also filed a petition against Sona Alloys under Section 9. The CIRP against Sona Alloys was admitted on 2020-06-16. Pani Logistics, a financial creditor, initiated CIRP against Ganga Advisory Pvt. Ltd. under Section 7 of the IB Code, which was admitted on 2019-01-24. Mahaveer Transport, a financial creditor, initiated CIRP against Neuromed Imaging Centre Pvt. Ltd. under Section 7 of the IB Code, which was admitted on 2019-07-12. The Liquidator filed an application under Section 60(5)(c) of the IB Code seeking substantive consolidation of the Corporate Debtor (Sona Alloys) and Respondents 2-6. Respondents 2-6 hold substantive
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CIRP against Sona…
CIRP against Ganga…
The case involves an application filed by the Liquidator under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, seeking substantive consolidation of the Corporate Debtor (Sona Alloys Pvt. Ltd.) and Respondents Nos. 2-6 into a single proceeding for the purpose of CIRP. The application was filed in light of separate CIRP proceedings initiated against the Corporate Debtor and the Respondents. The Operational Creditor, P & M associates LLP, had filed an application under section 9 of the IB Code against Sona Alloys, and another petition was filed by Noble Resources. CIRP was initiated against Ganga Advisory Pvt. Ltd. and Neuromed Imaging Centre Pvt. Ltd. under section 7 of the IB Code.
P & M Associates LLP, an operational creditor, initiated CIRP against Sona Alloys Pvt. Ltd. under Section 9 of the IB Code. Noble Resources also filed a petition against Sona Alloys under Section 9. The CIRP against Sona Alloys was admitted on 2020-06-16. Pani Logistics, a financial creditor, initiated CIRP against Ganga Advisory Pvt. Ltd. under Section 7 of the IB Code, which was admitted on 2019-01-24. Mahaveer Transport, a financial creditor, initiated CIRP against Neuromed Imaging Centre Pvt. Ltd. under Section 7 of the IB Code, which was admitted on 2019-07-12. The Liquidator filed an application under Section 60(5)(c) of the IB Code seeking substantive consolidation of the Corporate Debtor (Sona Alloys) and Respondents 2-6. Respondents 2-6 hold substantive
…CIRP against Sona…
CIRP against Ganga…