The case involves an application under Section 33 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, regarding the Corporate Insolvency Resolution Process (CIRP) of Capital Electronics and Appliances Limited. The CIRP was initiated based on an application under Section 9 of the IBC. The applicant was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several events occurred during the CIRP, including the constitution and reconstitution of the Committee of Creditors (CoC), invitation for expression of interest from prospective resolution applicants, withdrawal of claims by financial creditors, and the inability to approve a resolution plan. The CIRP period expired, and the CoC members
…ISERVE SOLUTIONS & SERVICES PRIVATE LIMITED initiated CIRP against Capital Electronics and Appliances Limited. The application was admitted on January 16, 2023, and an Interim Resolution Professional (IRP) was appointed. Public announcements were made to invite claims from creditors. A Committee of Creditors (CoC) was formed, and the IRP was confirmed as the Resolution Professional (RP). Bajaj Finance Limited, holding a significant voting share (90.91%), withdrew its claim, leading to the CoC's non-participation in meetings. The 180-day CIRP period expired on July 14, 2023, without a resolution plan. Capfloat Financial Services Private Limited also withdrew its claim. The CoC was reconstituted with operational creditors. The RP issued a Request for Resolution Plan
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C.P. (IB)/724(KB)2020 was filed to initiate…
The application was admitted by the Tribunal,…
The case involves an application under Section 33 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, regarding the Corporate Insolvency Resolution Process (CIRP) of Capital Electronics and Appliances Limited. The CIRP was initiated based on an application under Section 9 of the IBC. The applicant was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several events occurred during the CIRP, including the constitution and reconstitution of the Committee of Creditors (CoC), invitation for expression of interest from prospective resolution applicants, withdrawal of claims by financial creditors, and the inability to approve a resolution plan. The CIRP period expired, and the CoC members
…ISERVE SOLUTIONS & SERVICES PRIVATE LIMITED initiated CIRP against Capital Electronics and Appliances Limited. The application was admitted on January 16, 2023, and an Interim Resolution Professional (IRP) was appointed. Public announcements were made to invite claims from creditors. A Committee of Creditors (CoC) was formed, and the IRP was confirmed as the Resolution Professional (RP). Bajaj Finance Limited, holding a significant voting share (90.91%), withdrew its claim, leading to the CoC's non-participation in meetings. The 180-day CIRP period expired on July 14, 2023, without a resolution plan. Capfloat Financial Services Private Limited also withdrew its claim. The CoC was reconstituted with operational creditors. The RP issued a Request for Resolution Plan
…C.P. (IB)/724(KB)2020 was filed to initiate…
The application was admitted by the Tribunal,…