The case involves MA/102/2019 filed in CP/515/IB/CB/2017 under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Summer India Textiles Mills Private Limited. The Resolution Professional filed an application seeking liquidation of the Corporate Debtor. The CIRP was initiated on 2017-06-13. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2018-03-28. The Resolution Professional received a resolution plan from M/s. Sarathy Exports, which was placed before the CoC. The maximum period of 270 days for the CIRP was completed on 2018-10-30, and no resolution plan was approved.
M/s. Summer India Textiles Mills Private Limited faced Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. State Bank of India initiated the CIRP as a financial creditor. The CIRP commenced on 2017-06-13. Mr. C.V. Madhusudhanan was appointed as the Interim Resolution Professional (IRP). The IRP constituted a Committee of Creditors (CoC). The CoC resolved to liquidate the Corporate Debtor on 2018-03-28. A resolution plan was received from M/s. Sarathy Exports but was not approved. The maximum CIRP period of 270 days expired on 2018-10-30 without an approved resolution plan. The Resolution Professional filed MA/102/IB/2019 seeking liquidation of the Corporate Debtor. The director of the Corporate Debtor filed various legal
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The Corporate Insolvency Resolution Process…
Mr. C.V. Madhusudhanan…
The case involves MA/102/2019 filed in CP/515/IB/CB/2017 under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Summer India Textiles Mills Private Limited. The Resolution Professional filed an application seeking liquidation of the Corporate Debtor. The CIRP was initiated on 2017-06-13. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2018-03-28. The Resolution Professional received a resolution plan from M/s. Sarathy Exports, which was placed before the CoC. The maximum period of 270 days for the CIRP was completed on 2018-10-30, and no resolution plan was approved.
M/s. Summer India Textiles Mills Private Limited faced Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. State Bank of India initiated the CIRP as a financial creditor. The CIRP commenced on 2017-06-13. Mr. C.V. Madhusudhanan was appointed as the Interim Resolution Professional (IRP). The IRP constituted a Committee of Creditors (CoC). The CoC resolved to liquidate the Corporate Debtor on 2018-03-28. A resolution plan was received from M/s. Sarathy Exports but was not approved. The maximum CIRP period of 270 days expired on 2018-10-30 without an approved resolution plan. The Resolution Professional filed MA/102/IB/2019 seeking liquidation of the Corporate Debtor. The director of the Corporate Debtor filed various legal
…The Corporate Insolvency Resolution Process…
Mr. C.V. Madhusudhanan…