The case involves an application filed by the Resolution Professional (RP) on behalf of the Committee of Creditors (CoC) seeking liquidation of the Corporate Debtor, Abhinav Steel and Power Ltd., due to the absence of a resolution plan. The Corporate Insolvency Resolution Process (CIRP) was initiated following an order dated 31.07.2019 based on a petition filed by Central Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Shravan Kumar Vishnoi was appointed as the Interim Resolution Professional (IRP) and later confirmed as RP.
Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Abhinav Steel and Power Ltd. on 31.07.2019. Shravan Kumar Vishnoi was appointed as the Interim Resolution Professional (IRP) and later confirmed as RP on 29.09.2019. Despite attempts to find a resolution plan, including re-publication of Form G and extensions of the CIRP period, no viable plan was received. The Committee of Creditors (CoC) decided in its 9th meeting on 24.07.2020 to liquidate the corporate debtor with a 100% voting share. An earlier liquidation application (3415/2020) was withdrawn on 11.09.2020 after the CoC expressed hope for a resolution plan. However, the 11th CoC
…Sign in to view the parties.
Adjudicating Authority directed initiation of…
Mr. Shravan Kumar…
The case involves an application filed by the Resolution Professional (RP) on behalf of the Committee of Creditors (CoC) seeking liquidation of the Corporate Debtor, Abhinav Steel and Power Ltd., due to the absence of a resolution plan. The Corporate Insolvency Resolution Process (CIRP) was initiated following an order dated 31.07.2019 based on a petition filed by Central Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Shravan Kumar Vishnoi was appointed as the Interim Resolution Professional (IRP) and later confirmed as RP.
Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Abhinav Steel and Power Ltd. on 31.07.2019. Shravan Kumar Vishnoi was appointed as the Interim Resolution Professional (IRP) and later confirmed as RP on 29.09.2019. Despite attempts to find a resolution plan, including re-publication of Form G and extensions of the CIRP period, no viable plan was received. The Committee of Creditors (CoC) decided in its 9th meeting on 24.07.2020 to liquidate the corporate debtor with a 100% voting share. An earlier liquidation application (3415/2020) was withdrawn on 11.09.2020 after the CoC expressed hope for a resolution plan. However, the 11th CoC
…Adjudicating Authority directed initiation of…
Mr. Shravan Kumar…