The case involves an Interlocutory Application (IA) filed by the Resolution Professional (RP) of SSV Engineers Private Limited under section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC). The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against SSV Engineers Private Limited on 03.01.2019. The CIRP was extended, and the RP received a withdrawal application from the original Operational Creditor. The Committee of Creditors (CoC) did not approve the withdrawal initially. The RP also filed IA No.3467/2019 for liquidation of the Corporate Debtor.
The Resolution Professional (RP) of SSV Engineers Private Limited filed an Interlocutory Application (IA) under section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC). The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against SSV Engineers Private Limited on 03.01.2019. The CIRP was extended. The RP received a withdrawal application from the original Operational Creditor, which was placed before the CoC but initially did not receive positive votes. The RP filed IA No.3467/2019 for liquidation. The promoter/suspended director settled dues with all financial and operational creditors (except SBI initially) by 06.01.2020, obtaining their consent for withdrawal. SBI, however, sought clarity regarding the pending liquidation
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CP (IB) 1740/2…
Adjudicating Authority admitted the company…
The case involves an Interlocutory Application (IA) filed by the Resolution Professional (RP) of SSV Engineers Private Limited under section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC). The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against SSV Engineers Private Limited on 03.01.2019. The CIRP was extended, and the RP received a withdrawal application from the original Operational Creditor. The Committee of Creditors (CoC) did not approve the withdrawal initially. The RP also filed IA No.3467/2019 for liquidation of the Corporate Debtor.
The Resolution Professional (RP) of SSV Engineers Private Limited filed an Interlocutory Application (IA) under section 60(5) of the Insolvency & Bankruptcy Code, 2016 (IBC). The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against SSV Engineers Private Limited on 03.01.2019. The CIRP was extended. The RP received a withdrawal application from the original Operational Creditor, which was placed before the CoC but initially did not receive positive votes. The RP filed IA No.3467/2019 for liquidation. The promoter/suspended director settled dues with all financial and operational creditors (except SBI initially) by 06.01.2020, obtaining their consent for withdrawal. SBI, however, sought clarity regarding the pending liquidation
…CP (IB) 1740/2…
Adjudicating Authority admitted the company…