The case pertains to an application filed by the Resolution Professional, Rajesh Kumar Agarwal, of KVR Steels Orissa Ltd., seeking liquidation of the Corporate Debtor under Section 33 of the Insolvency and Bankruptcy Code, 2016.
The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, KVR Steels Orissa Ltd., was admitted into CIRP vide order dated 29.11.2023.
The Financial Creditor, Indian Bank, initiated the CIRP.
The Applicant, Rajesh Kumar Agarwal, was appointed as the Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was constituted on 21.12.2023.
The CoC comprised of the sole financial creditor, Indian Bank, with a 100% voting share.
The CoC recommended liquidation of the Corporate Debtor due to non-cooperation of the suspended board of directors and the inability to trace any assets.
The CIRP period was expiring on 24.08.2024.
Mr. Umesh Chandra Sahoo was appointed as the liquidator.
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The Corporate Debtor…
The Applicant made a public announcement of…
The case pertains to an application filed by the Resolution Professional, Rajesh Kumar Agarwal, of KVR Steels Orissa Ltd., seeking liquidation of the Corporate Debtor under Section 33 of the Insolvency and Bankruptcy Code, 2016.
The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, KVR Steels Orissa Ltd., was admitted into CIRP vide order dated 29.11.2023.
The Financial Creditor, Indian Bank, initiated the CIRP.
The Applicant, Rajesh Kumar Agarwal, was appointed as the Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was constituted on 21.12.2023.
The CoC comprised of the sole financial creditor, Indian Bank, with a 100% voting share.
The CoC recommended liquidation of the Corporate Debtor due to non-cooperation of the suspended board of directors and the inability to trace any assets.
The CIRP period was expiring on 24.08.2024.
Mr. Umesh Chandra Sahoo was appointed as the liquidator.
…The Corporate Debtor…
The Applicant made a public announcement of…