The case involves an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, M/s. Sterling SEZ and Infrastructure Ltd., due to the absence of a resolution plan. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed, and later, a Resolution Professional (RP) was appointed after a Committee of Creditors (CoC) meeting. Initially, the CIRP was withdrawn based on a CoC application under Section 12A of the IBC, but the withdrawal order was later stayed due to lack of consultation with the Ministry of Corporate Affairs. The bench recalled the withdrawal of CIRP order
…On 2018-07-16, the bench initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Sterling SEZ and Infrastructure Ltd. based on a petition filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Vishal Ghisulal Jain was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Vishal Ghisulal Jain was appointed as the Resolution Professional (RP) after a Committee of Creditors (CoC) meeting on 2018-08-27. The CoC had previously filed an application under Section 12A of the IBC, leading to the withdrawal of CIRP, but this was later stayed and recalled due to lack of consultation with the Ministry of Corporate Affairs. The maximum period of 270 days for CIRP completion expired on 2019-04-11. No
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The bench initiated Corporate Insolvency…
Mr. Vishal Ghisulal Jain was appointed as…
The case involves an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, M/s. Sterling SEZ and Infrastructure Ltd., due to the absence of a resolution plan. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed, and later, a Resolution Professional (RP) was appointed after a Committee of Creditors (CoC) meeting. Initially, the CIRP was withdrawn based on a CoC application under Section 12A of the IBC, but the withdrawal order was later stayed due to lack of consultation with the Ministry of Corporate Affairs. The bench recalled the withdrawal of CIRP order
…On 2018-07-16, the bench initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Sterling SEZ and Infrastructure Ltd. based on a petition filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Vishal Ghisulal Jain was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Vishal Ghisulal Jain was appointed as the Resolution Professional (RP) after a Committee of Creditors (CoC) meeting on 2018-08-27. The CoC had previously filed an application under Section 12A of the IBC, leading to the withdrawal of CIRP, but this was later stayed and recalled due to lack of consultation with the Ministry of Corporate Affairs. The maximum period of 270 days for CIRP completion expired on 2019-04-11. No
…The bench initiated Corporate Insolvency…
Mr. Vishal Ghisulal Jain was appointed as…