The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, Sterling Vehicles & General Sales Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 7 of the Code by Volkswagen Finance Private Limited. The application was admitted on 26.02.2019. The Interim Resolution Professional, Mr. Sunil Prakash Sharma, was appointed.
Volkswagen Finance Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Sterling Vehicles & General Sales Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 26.02.2019. Sunil Prakash Sharma was appointed as the Interim Resolution Professional (IRP). Form-A was published in the Financial Express and Jansatta on 10.03.2019 and sent to IBBI on 11.03.2019. The IRP received claims from six financial creditors and three operational creditors. The suspended directors of the corporate debtor allegedly did not cooperate. The Committee of Creditors (CoC) decided on 21.08.2019, with a 75.47% majority, not to extend the CIRP and resolved for liquidation. The last date for the CIRP was
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Company Petition No.…
The application under…
The case involves an application filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the corporate debtor, Sterling Vehicles & General Sales Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 7 of the Code by Volkswagen Finance Private Limited. The application was admitted on 26.02.2019. The Interim Resolution Professional, Mr. Sunil Prakash Sharma, was appointed.
Volkswagen Finance Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Sterling Vehicles & General Sales Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 26.02.2019. Sunil Prakash Sharma was appointed as the Interim Resolution Professional (IRP). Form-A was published in the Financial Express and Jansatta on 10.03.2019 and sent to IBBI on 11.03.2019. The IRP received claims from six financial creditors and three operational creditors. The suspended directors of the corporate debtor allegedly did not cooperate. The Committee of Creditors (CoC) decided on 21.08.2019, with a 75.47% majority, not to extend the CIRP and resolved for liquidation. The last date for the CIRP was
…Company Petition No.…
The application under…