The case involves an application filed by the Resolution Professional, Mr. N. Sivachalam, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of M/s. Sri Padmabalaji Steels Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the Operational Creditor under Section 9 of the I&B Code, 2016. Mr. S. Muthuraju was initially appointed as the Interim Resolution Professional (IRP), and later, Mr. N. Sivachalam was appointed as the Resolution Professional (RP) based on the recommendation of the Committee of Creditors (CoC).
The Operational Creditor initiated the Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Padmabalaji Steels Private Limited under Section 9 of the I&B Code, 2016. Mr. S. Muthuraju was appointed as the Interim Resolution Professional (IRP), followed by Mr. N. Sivachalam as the Resolution Professional (RP). The Committee of Creditors (CoC) held its first meeting on 13.10.2017. In the 3rd meeting of the CoC held on 22.02.2018, a resolution was passed to liquidate the Corporate Debtor because no resolution plan was in place for approval. The Resolution Professional then filed CA/97/2018 seeking an order for liquidation. The Adjudicating Authority noted that no resolution plan was received under Section 30(6) of the I&B Code. The CIRP commenced on
…Sign in to view the parties.
Corporate Insolvency…
The first meeting of…
The case involves an application filed by the Resolution Professional, Mr. N. Sivachalam, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of M/s. Sri Padmabalaji Steels Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the Operational Creditor under Section 9 of the I&B Code, 2016. Mr. S. Muthuraju was initially appointed as the Interim Resolution Professional (IRP), and later, Mr. N. Sivachalam was appointed as the Resolution Professional (RP) based on the recommendation of the Committee of Creditors (CoC).
The Operational Creditor initiated the Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Padmabalaji Steels Private Limited under Section 9 of the I&B Code, 2016. Mr. S. Muthuraju was appointed as the Interim Resolution Professional (IRP), followed by Mr. N. Sivachalam as the Resolution Professional (RP). The Committee of Creditors (CoC) held its first meeting on 13.10.2017. In the 3rd meeting of the CoC held on 22.02.2018, a resolution was passed to liquidate the Corporate Debtor because no resolution plan was in place for approval. The Resolution Professional then filed CA/97/2018 seeking an order for liquidation. The Adjudicating Authority noted that no resolution plan was received under Section 30(6) of the I&B Code. The CIRP commenced on
…Corporate Insolvency…
The first meeting of…