The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, by Mr. Sanjay Shrivastava, the Resolution Professional (RP) of Creaative Powertech Private Limited, seeking a liquidation order. Gujarat Copper Alloys Limited had initiated the Corporate Insolvency Resolution Process (CIRP) against Creaative Powertech Private Limited under Section 9. The tribunal admitted the Corporate Debtor into CIRP on 12.04.2023, appointing Mr. Sanjay Shrivastava as the Interim Resolution Professional (IRP). Form A was issued to invite claims from creditors, and a Committee of Creditors (CoC) was constituted. The CoC approved the appointment of the applicant as the Resolution Professional. Form G was published, inviting Expression of Interest
…Gujarat Copper Alloys Limited initiated CIRP against Creaative Powertech Private Limited under Section 9 of IBC. The CIRP was triggered by a default in debt repayment. The NCLT admitted the application on 2023-04-12 and appointed an IRP. The IRP, Sanjay Shrivastava, took control of the Corporate Debtor. Public announcement was made to invite claims from creditors. The CoC was formed and approved the appointment of Sanjay Shrivastava as RP. The RP invited resolution plans, but the CoC rejected the only resolution plan received from Gemini Instratech Limited due to its low value. The CoC then voted for liquidation with a 75.48% majority. Arun Kapoor was appointed as the liquidator. The NCLT approved the liquidation and appointed Arun Kapoor as the liquidator. The
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Gujarat Copper Alloys Limited filed…
The tribunal admitted the Corporate Debtor into…
The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, by Mr. Sanjay Shrivastava, the Resolution Professional (RP) of Creaative Powertech Private Limited, seeking a liquidation order. Gujarat Copper Alloys Limited had initiated the Corporate Insolvency Resolution Process (CIRP) against Creaative Powertech Private Limited under Section 9. The tribunal admitted the Corporate Debtor into CIRP on 12.04.2023, appointing Mr. Sanjay Shrivastava as the Interim Resolution Professional (IRP). Form A was issued to invite claims from creditors, and a Committee of Creditors (CoC) was constituted. The CoC approved the appointment of the applicant as the Resolution Professional. Form G was published, inviting Expression of Interest
…Gujarat Copper Alloys Limited initiated CIRP against Creaative Powertech Private Limited under Section 9 of IBC. The CIRP was triggered by a default in debt repayment. The NCLT admitted the application on 2023-04-12 and appointed an IRP. The IRP, Sanjay Shrivastava, took control of the Corporate Debtor. Public announcement was made to invite claims from creditors. The CoC was formed and approved the appointment of Sanjay Shrivastava as RP. The RP invited resolution plans, but the CoC rejected the only resolution plan received from Gemini Instratech Limited due to its low value. The CoC then voted for liquidation with a 75.48% majority. Arun Kapoor was appointed as the liquidator. The NCLT approved the liquidation and appointed Arun Kapoor as the liquidator. The
…Gujarat Copper Alloys Limited filed…
The tribunal admitted the Corporate Debtor into…