The case involves the liquidation of Athena Chhattisgarh Power Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by State Bank of India under Section 7 of the IBC, which was admitted on 2019-05-15. An Interim Resolution Professional was appointed, later confirmed as the Resolution Professional (RP). As no viable resolution plan was received, the Tribunal ordered liquidation on 2021-05-13. Mr. Kumar Rajan was appointed as the Liquidator. The liquidator took steps to sell the corporate debtor as a going concern, including public announcements, stakeholder consultations, and valuation exercises. Several attempts were made to sell the company as a going concern, including seeking exclusions of time periods due to lockdown and
…State Bank of India filed a petition under Section 7 of the IBC, which was admitted on 2019-05-15, initiating CIRP for Athena Chhattisgarh Power Ltd. An Interim Resolution Professional was appointed and later confirmed as RP. Due to the absence of a viable resolution plan, the Tribunal ordered liquidation on 2021-05-13, appointing Mr. Kumar Rajan as Liquidator. The Liquidator made a public announcement on 2021-06-12, inviting claims and constituting a Stakeholders Consultation Committee (SCC). The Liquidator appointed GAA Advisory LLP and RNC Valuecon LLP as registered valuers. The final Valuation Report was submitted on 2021-10-21. The Applicant convened 12 SCC meetings to discuss the affairs of the CD and resolved to sell the CD as a going concern. The Applicant
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The case involves the liquidation of Athena Chhattisgarh Power Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by State Bank of India under Section 7 of the IBC, which was admitted on 2019-05-15. An Interim Resolution Professional was appointed, later confirmed as the Resolution Professional (RP). As no viable resolution plan was received, the Tribunal ordered liquidation on 2021-05-13. Mr. Kumar Rajan was appointed as the Liquidator. The liquidator took steps to sell the corporate debtor as a going concern, including public announcements, stakeholder consultations, and valuation exercises. Several attempts were made to sell the company as a going concern, including seeking exclusions of time periods due to lockdown and
…State Bank of India filed a petition under Section 7 of the IBC, which was admitted on 2019-05-15, initiating CIRP for Athena Chhattisgarh Power Ltd. An Interim Resolution Professional was appointed and later confirmed as RP. Due to the absence of a viable resolution plan, the Tribunal ordered liquidation on 2021-05-13, appointing Mr. Kumar Rajan as Liquidator. The Liquidator made a public announcement on 2021-06-12, inviting claims and constituting a Stakeholders Consultation Committee (SCC). The Liquidator appointed GAA Advisory LLP and RNC Valuecon LLP as registered valuers. The final Valuation Report was submitted on 2021-10-21. The Applicant convened 12 SCC meetings to discuss the affairs of the CD and resolved to sell the CD as a going concern. The Applicant
…Company Petition filed…
Tribunal ordered…
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