The case pertains to an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Abhijeet Integrated Steel Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed by IDBI Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Kamlesh Kumar Singhania was appointed as the Interim Resolution Professional (IRP). Public announcement was made, and a Committee of Creditors (CoC) was formed. The CoC appointed Kamlesh Kumar Singhania as the Resolution Professional. A resolution plan submitted by Orissa Metaliks Pvt Ltd. was considered but found to be deficient as the required projections to evaluate feasibility and viability were not submitted by the
…IDBI Bank initiated Corporate Insolvency Resolution Process (CIRP) against Abhijeet Integrated Steel Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Kamlesh Kumar Singhania was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). A Committee of Creditors (CoC) was formed. Orissa Metaliks Pvt Ltd. submitted a resolution plan, but it was found deficient because the projections required to evaluate feasibility and viability were not submitted. The RP requested the Resolution Applicant to provide the missing information, but they failed to do so. Consequently, the RP filed an application seeking liquidation of the Corporate Debtor, Abhijeet Integrated Steel Limited, due to the absence of a compliant
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The case pertains to an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Abhijeet Integrated Steel Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed by IDBI Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Kamlesh Kumar Singhania was appointed as the Interim Resolution Professional (IRP). Public announcement was made, and a Committee of Creditors (CoC) was formed. The CoC appointed Kamlesh Kumar Singhania as the Resolution Professional. A resolution plan submitted by Orissa Metaliks Pvt Ltd. was considered but found to be deficient as the required projections to evaluate feasibility and viability were not submitted by the
…IDBI Bank initiated Corporate Insolvency Resolution Process (CIRP) against Abhijeet Integrated Steel Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Kamlesh Kumar Singhania was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). A Committee of Creditors (CoC) was formed. Orissa Metaliks Pvt Ltd. submitted a resolution plan, but it was found deficient because the projections required to evaluate feasibility and viability were not submitted. The RP requested the Resolution Applicant to provide the missing information, but they failed to do so. Consequently, the RP filed an application seeking liquidation of the Corporate Debtor, Abhijeet Integrated Steel Limited, due to the absence of a compliant
…Adjudicating Authority directed initiation of…
CoC appointed Mr. Kamlesh Kumar Singhania as…