The case involves an application for the liquidation of the Corporate Debtor (CD), 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 CD in its 3rd meeting held on January 27, 2022, and recommended Mr. Kapil Dev Dhir as the Liquidator. The Corporate Insolvency Resolution Process (CIRP) had commenced on July 30, 2021, and exceeded the maximum period without a resolution plan being filed.
M/s. D. P. Industries filed an application against M/s. Jai Sai Ram Steel Pvt. Ltd. under Section 9 of the IBC, 2016. The CIRP commenced on 2021-07-30. The Committee of Creditors (CoC), consisting solely of Punjab National Bank, held its 3rd meeting on 2022-01-27 and resolved to liquidate the Corporate Debtor (CD). The CoC also recommended Mr. Kapil Dev Dhir as the Liquidator. No resolution plan was filed within the maximum period prescribed for the CIRP. Respondent Nos. 3 & 5 did not appear despite service of notice. The CoC voted with 100% voting share to liquidate the CD. The Adjudicating Authority considered the provisions of Section 33(1)(2) of the IBC, 2016.
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The Corporate…
The Committee of Creditors (CoC) held its 3rd…
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The case involves an application for the liquidation of the Corporate Debtor (CD), 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 CD in its 3rd meeting held on January 27, 2022, and recommended Mr. Kapil Dev Dhir as the Liquidator. The Corporate Insolvency Resolution Process (CIRP) had commenced on July 30, 2021, and exceeded the maximum period without a resolution plan being filed.
M/s. D. P. Industries filed an application against M/s. Jai Sai Ram Steel Pvt. Ltd. under Section 9 of the IBC, 2016. The CIRP commenced on 2021-07-30. The Committee of Creditors (CoC), consisting solely of Punjab National Bank, held its 3rd meeting on 2022-01-27 and resolved to liquidate the Corporate Debtor (CD). The CoC also recommended Mr. Kapil Dev Dhir as the Liquidator. No resolution plan was filed within the maximum period prescribed for the CIRP. Respondent Nos. 3 & 5 did not appear despite service of notice. The CoC voted with 100% voting share to liquidate the CD. The Adjudicating Authority considered the provisions of Section 33(1)(2) of the IBC, 2016.
The Corporate…
The Committee of Creditors (CoC) held its 3rd…
Sign in to view related legal provisions.