The case involves an application for the liquidation of Bhowanipur Engineering Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on March 16, 2020, following a petition by Rajendra Kumar Singhania, the Operational Creditor. Initially, Sushil Kumar Dokania was appointed as the Interim Resolution Professional (IRP), but he declined the role. Subsequently, Sandip Kumar Mitra was appointed but also showed unwillingness. Finally, Rajesh Kumar Aggarwal was appointed as IRP on January 31, 2022. The Committee of Creditors (CoC), including Indian Bank, was formed. The CoC rejected the appointment of IRP as RP and did not propose a new RP. After several meetings, the CoC approved the liquidation of the Corporate Debtor with a 100% voting share.
Rajendra Kumar Singhania, an Operational Creditor, filed a petition against Bhowanipur Engineering Private Limited, leading to the initiation of CIRP on March 16, 2020. Several IRPs were appointed and subsequently unwilling to continue. Rajesh Kumar Aggarwal was eventually appointed as IRP. The Committee of Creditors (CoC) was formed, including Indian Bank. The CoC rejected the appointment of the IRP as RP and did not propose a new RP. The CIRP period of 180 days concluded on July 29, 2022. Eventually, the CoC approved the liquidation of Bhowanipur Engineering Private Limited with 100% voting share on November 15, 2022. The IRP then filed an application for liquidation, citing the lack of resolution scope. This application was approved by the NCLT, leading to the order
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Corporate Insolvency Resolution Process (CIRP)…
Mr. Sandip Kum…
The case involves an application for the liquidation of Bhowanipur Engineering Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on March 16, 2020, following a petition by Rajendra Kumar Singhania, the Operational Creditor. Initially, Sushil Kumar Dokania was appointed as the Interim Resolution Professional (IRP), but he declined the role. Subsequently, Sandip Kumar Mitra was appointed but also showed unwillingness. Finally, Rajesh Kumar Aggarwal was appointed as IRP on January 31, 2022. The Committee of Creditors (CoC), including Indian Bank, was formed. The CoC rejected the appointment of IRP as RP and did not propose a new RP. After several meetings, the CoC approved the liquidation of the Corporate Debtor with a 100% voting share.
Rajendra Kumar Singhania, an Operational Creditor, filed a petition against Bhowanipur Engineering Private Limited, leading to the initiation of CIRP on March 16, 2020. Several IRPs were appointed and subsequently unwilling to continue. Rajesh Kumar Aggarwal was eventually appointed as IRP. The Committee of Creditors (CoC) was formed, including Indian Bank. The CoC rejected the appointment of the IRP as RP and did not propose a new RP. The CIRP period of 180 days concluded on July 29, 2022. Eventually, the CoC approved the liquidation of Bhowanipur Engineering Private Limited with 100% voting share on November 15, 2022. The IRP then filed an application for liquidation, citing the lack of resolution scope. This application was approved by the NCLT, leading to the order
…Corporate Insolvency Resolution Process (CIRP)…
Mr. Sandip Kum…