Phoenix Arc Private Limited initiated CIRP against Arambagh Hatcheries Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Sanjai Kumar Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Pinaki Sircar. Despite publishing Form G twice to invite expressions of interest, no resolution plan was submitted. The CoC, in its 22nd meeting, voted with 99.77% to liquidate the Corporate Debtor and proposed Decode Resolvency international Pvt Ltd as the liquidator. The RP then filed an application seeking liquidation, citing the absence of any resolution plan. The Adjudicating Authority approved the liquidation and appointed Sanjay Kumar Poddar as the liquidator.

Phoenix Arc Private Limited initiated CIRP against Arambagh Hatcheries Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Sanjai Kumar Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Pinaki Sircar. Despite publishing Form G twice to invite expressions of interest, no resolution plan was submitted. The CoC, in its 22nd meeting, voted with 99.77% to liquidate the Corporate Debtor and proposed Decode Resolvency international Pvt Ltd as the liquidator. The RP then filed an application seeking liquidation, citing the absence of any resolution plan. The Adjudicating Authority approved the liquidation and appointed Sanjay Kumar Poddar as the liquidator.