The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Suman Agritech Limited. The CIRP was ordered on 2019-08-27 and ended on 2020-10-15, including extensions. A resolution plan submitted by a Resolution Applicant was rejected by the Committee of Creditors (CoC) on 2020-10-05. An application for liquidation of the Corporate Debtor was filed on 2020-11-23. The applicant sought exclusion of the period from 2020-10-05 to 2020-11-23 due to delays caused by the Covid pandemic in appointing a liquidator.
The Corporate Insolvency Resolution Process (CIRP) against Suman Agritech Limited was initiated on 2019-08-27 and concluded on 2020-10-15. A resolution plan was submitted by a Resolution Applicant but was rejected by the Committee of Creditors (CoC) during a meeting on 2020-10-05. Subsequently, an application for the liquidation of the Corporate Debtor was filed on 2020-11-23. The applicant sought to exclude the period from 2020-10-05 to 2020-11-23 from the CIRP timeline, citing delays caused by the Covid-19 pandemic in the appointment of a liquidator. The CoC voted 53% in favor and 57% against the Resolution Plan. The Resolution Professional had given his consent to act as a liquidator, but the CoC rejected the proposal for his appointment. No liquidator was proposed
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Corporate Insolvency…
The Resolution Plan submitted by one Resolution…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Suman Agritech Limited. The CIRP was ordered on 2019-08-27 and ended on 2020-10-15, including extensions. A resolution plan submitted by a Resolution Applicant was rejected by the Committee of Creditors (CoC) on 2020-10-05. An application for liquidation of the Corporate Debtor was filed on 2020-11-23. The applicant sought exclusion of the period from 2020-10-05 to 2020-11-23 due to delays caused by the Covid pandemic in appointing a liquidator.
The Corporate Insolvency Resolution Process (CIRP) against Suman Agritech Limited was initiated on 2019-08-27 and concluded on 2020-10-15. A resolution plan was submitted by a Resolution Applicant but was rejected by the Committee of Creditors (CoC) during a meeting on 2020-10-05. Subsequently, an application for the liquidation of the Corporate Debtor was filed on 2020-11-23. The applicant sought to exclude the period from 2020-10-05 to 2020-11-23 from the CIRP timeline, citing delays caused by the Covid-19 pandemic in the appointment of a liquidator. The CoC voted 53% in favor and 57% against the Resolution Plan. The Resolution Professional had given his consent to act as a liquidator, but the CoC rejected the proposal for his appointment. No liquidator was proposed
…Corporate Insolvency…
The Resolution Plan submitted by one Resolution…