The case involves an application filed by the Resolution Professional under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of FE Aagrochem Private Limited, the Corporate Debtor. Deepak Khandelwal, an Operational Creditor, initially filed an application under Section 9 of the Code, which led to the initiation of the Corporate Insolvency Resolution Process (CIRP). Prabhakar Kumar was appointed as the Interim Resolution Professional. Subsequently, Canara Bank, the sole member of the Committee of Creditors (CoC), appointed the applicant as the Resolution Professional. Form G was published to invite Expression of Interest, but no resolution plan was received.
Deepak Khandelwal, an operational creditor of FE Aagrochem Private Limited, initiated the Corporate Insolvency Resolution Process (CIRP) by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was admitted, and Prabhakar Kumar was appointed as the Interim Resolution Professional. Subsequently, Canara Bank, the sole member of the Committee of Creditors (CoC), appointed a new Resolution Professional. Form G was published to invite Expression of Interest (EOI) from prospective resolution applicants. Despite extending the deadline for submission of EOIs due to the COVID-19 pandemic and related lockdowns, no resolution plan was received. The CoC rejected a request from a proposed resolution applicant to remove a stipulated
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Tribunal admitted the application under…
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The case involves an application filed by the Resolution Professional under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of FE Aagrochem Private Limited, the Corporate Debtor. Deepak Khandelwal, an Operational Creditor, initially filed an application under Section 9 of the Code, which led to the initiation of the Corporate Insolvency Resolution Process (CIRP). Prabhakar Kumar was appointed as the Interim Resolution Professional. Subsequently, Canara Bank, the sole member of the Committee of Creditors (CoC), appointed the applicant as the Resolution Professional. Form G was published to invite Expression of Interest, but no resolution plan was received.
Deepak Khandelwal, an operational creditor of FE Aagrochem Private Limited, initiated the Corporate Insolvency Resolution Process (CIRP) by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was admitted, and Prabhakar Kumar was appointed as the Interim Resolution Professional. Subsequently, Canara Bank, the sole member of the Committee of Creditors (CoC), appointed a new Resolution Professional. Form G was published to invite Expression of Interest (EOI) from prospective resolution applicants. Despite extending the deadline for submission of EOIs due to the COVID-19 pandemic and related lockdowns, no resolution plan was received. The CoC rejected a request from a proposed resolution applicant to remove a stipulated
…Tribunal admitted the application under…
Tribunal appointed the…