The case pertains to the insolvency resolution process of SRS Modern Sales Ltd. initiated under Section 10 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 17.04.2017, and Mr. Sameer Rastogi was appointed as the Interim Resolution Professional, later confirmed as the Resolution Professional by the Committee of Creditors (CoC). The insolvency resolution process period of 180 days expired on 17.10.2017. The CoC, comprising 4 Banks, decided in its 6th meeting on 16.10.2017 to refer the company for liquidation before the NCLT, Chandigarh. A resolution plan submitted by the promoters/directors on 12.10.2017 was found unacceptable by the CoC.
SRS Modern Sales Ltd. underwent corporate insolvency resolution process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on 17.04.2017. Mr. Sameer Rastogi was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The 180-day period for the CIRP expired on 17.10.2017. The Committee of Creditors (CoC), consisting of 4 banks, decided on 16.10.2017 to liquidate the company. A resolution plan submitted by the promoters/directors on 12.10.2017 was rejected by the CoC. The Union Bank of India, through its authorized officer Mr. Sanjay Narayan, filed an affidavit stating that the bank is taking steps under the SARFAESI Act against the corporate and personal guarantors. The
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The petition filed by SRS Modern Sales Limited…
Mr. Sameer Rastogi was…
The case pertains to the insolvency resolution process of SRS Modern Sales Ltd. initiated under Section 10 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 17.04.2017, and Mr. Sameer Rastogi was appointed as the Interim Resolution Professional, later confirmed as the Resolution Professional by the Committee of Creditors (CoC). The insolvency resolution process period of 180 days expired on 17.10.2017. The CoC, comprising 4 Banks, decided in its 6th meeting on 16.10.2017 to refer the company for liquidation before the NCLT, Chandigarh. A resolution plan submitted by the promoters/directors on 12.10.2017 was found unacceptable by the CoC.
SRS Modern Sales Ltd. underwent corporate insolvency resolution process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on 17.04.2017. Mr. Sameer Rastogi was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The 180-day period for the CIRP expired on 17.10.2017. The Committee of Creditors (CoC), consisting of 4 banks, decided on 16.10.2017 to liquidate the company. A resolution plan submitted by the promoters/directors on 12.10.2017 was rejected by the CoC. The Union Bank of India, through its authorized officer Mr. Sanjay Narayan, filed an affidavit stating that the bank is taking steps under the SARFAESI Act against the corporate and personal guarantors. The
…The petition filed by SRS Modern Sales Limited…
Mr. Sameer Rastogi was…