The application IA No.27/2023 was filed by the Resolution Professional (RP) of the Corporate Debtor seeking directions for initiating liquidation proceedings. The CIRP was initiated based on an application under Section 9 of the Code, and Vimal Kumar was appointed as the Interim Resolution Professional (IRP). The IRP was later confirmed as RP. Several applications were filed for exclusion of time from the CIRP period due to various reasons, including the COVID-19 pandemic and lack of funds. Public announcement inviting expression of interest for resolution plan was made, and two EOIs were received. The RP also filed three avoidance applications. The extended period of Ninety (90) days expired on 19.11.2022, and since there was scarcity of time to process the Proposed
…An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) for Ansh Energy Solutions Pvt. Ltd. Vimal Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several applications were filed seeking exclusion of time from the CIRP period due to the COVID-19 pandemic and lack of funds. Public announcements were made to invite resolution plans, and two expressions of interest (EOIs) were received, but both prospective resolution applicants (PRAs) withdrew their EOIs. The RP also filed three avoidance applications. The Committee of Creditors (CoC) did not take a decision on liquidation. The maximum
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The application IA No.27/2023 was filed by the Resolution Professional (RP) of the Corporate Debtor seeking directions for initiating liquidation proceedings. The CIRP was initiated based on an application under Section 9 of the Code, and Vimal Kumar was appointed as the Interim Resolution Professional (IRP). The IRP was later confirmed as RP. Several applications were filed for exclusion of time from the CIRP period due to various reasons, including the COVID-19 pandemic and lack of funds. Public announcement inviting expression of interest for resolution plan was made, and two EOIs were received. The RP also filed three avoidance applications. The extended period of Ninety (90) days expired on 19.11.2022, and since there was scarcity of time to process the Proposed
…An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) for Ansh Energy Solutions Pvt. Ltd. Vimal Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several applications were filed seeking exclusion of time from the CIRP period due to the COVID-19 pandemic and lack of funds. Public announcements were made to invite resolution plans, and two expressions of interest (EOIs) were received, but both prospective resolution applicants (PRAs) withdrew their EOIs. The RP also filed three avoidance applications. The Committee of Creditors (CoC) did not take a decision on liquidation. The maximum
…Application under…
IRP confirmed…