The case involves an application for the liquidation of the Corporate Debtor, M/s. Jai Sai Ram Steel Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (CoC), consisting solely of Punjab National Bank, resolved to liquidate the Corporate Debtor after the CIRP period expired without a resolution plan. The CoC also recommended Mr. Kapil Dev Dhir as the Liquidator.
M/s. D. P. Industries filed an application under Section 9 of the IBC, 2016 against M/s. Jai Sai Ram Steel Pvt. Ltd. The CIRP commenced on 2021-07-30. The Committee of Creditors (CoC), consisting solely of Punjab National Bank, resolved to liquidate the Corporate Debtor in its 3rd meeting held on 2022-01-27. The CoC also recommended Mr. Kapil Dev Dhir as the Liquidator. The CIRP period exceeded 500 days without a resolution plan being approved. Respondent Nos. 3 & 5 did not appear despite service of notice and were proceeded against ex-parte.
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The Corporate Insolvency Resolution Process…
The Committee of Creditors (CoC) resolved…
The case involves an application for the liquidation of the Corporate Debtor, M/s. Jai Sai Ram Steel Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Committee of Creditors (CoC), consisting solely of Punjab National Bank, resolved to liquidate the Corporate Debtor after the CIRP period expired without a resolution plan. The CoC also recommended Mr. Kapil Dev Dhir as the Liquidator.
M/s. D. P. Industries filed an application under Section 9 of the IBC, 2016 against M/s. Jai Sai Ram Steel Pvt. Ltd. The CIRP commenced on 2021-07-30. The Committee of Creditors (CoC), consisting solely of Punjab National Bank, resolved to liquidate the Corporate Debtor in its 3rd meeting held on 2022-01-27. The CoC also recommended Mr. Kapil Dev Dhir as the Liquidator. The CIRP period exceeded 500 days without a resolution plan being approved. Respondent Nos. 3 & 5 did not appear despite service of notice and were proceeded against ex-parte.
The Corporate Insolvency Resolution Process…
The Committee of Creditors (CoC) resolved…