The case involves an application filed by State Bank of India, the Financial Creditor, against Ambay Coke Industries Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The CIRP was commenced on May 22, 2024, and Mr. Avishek Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
State Bank of India initiated CIRP against Ambay Coke Industries Private Limited under Section 7 of IBC, 2016. The CIRP commenced on 2024-05-22, with Avishek Gupta appointed as IRP and later confirmed as RP. Public announcements were made, and a CoC was formed, comprising State Bank of India. The RP invited EOIs, receiving six in total. The last date for submitting a resolution plan was 2024-10-12. Two potential resolution applicants requested an extension, but the CoC decided against it, opting for liquidation. The CoC, in its 6th meeting on 2024-11-15, resolved to liquidate the Corporate Debtor and recommended Vijender Sharma as the liquidator. The resolution for liquidation passed with 100% votes in favor. The Corporate Debtor possesses land and assets, including
…Sign in to view the parties.
Corporate Insolvency Resolution Process (CIRP)…
Public announcement…
Sign in to view related legal provisions.
The case involves an application filed by State Bank of India, the Financial Creditor, against Ambay Coke Industries Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The CIRP was commenced on May 22, 2024, and Mr. Avishek Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
State Bank of India initiated CIRP against Ambay Coke Industries Private Limited under Section 7 of IBC, 2016. The CIRP commenced on 2024-05-22, with Avishek Gupta appointed as IRP and later confirmed as RP. Public announcements were made, and a CoC was formed, comprising State Bank of India. The RP invited EOIs, receiving six in total. The last date for submitting a resolution plan was 2024-10-12. Two potential resolution applicants requested an extension, but the CoC decided against it, opting for liquidation. The CoC, in its 6th meeting on 2024-11-15, resolved to liquidate the Corporate Debtor and recommended Vijender Sharma as the liquidator. The resolution for liquidation passed with 100% votes in favor. The Corporate Debtor possesses land and assets, including
…Corporate Insolvency Resolution Process (CIRP)…
Public announcement…
Sign in to view related legal provisions.