The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016, for the closure of the liquidation process of Maadurga Thermal Power Company Limited. The corporate insolvency resolution process (CIRP) was initiated, and an interim resolution professional (IRP) was appointed. Subsequently, the IRP was replaced by a resolution professional (RP). Despite extending the deadline multiple times, no resolution plans were received within the stipulated 270-day period. Consequently, liquidation was ordered, and the applicant was appointed as the liquidator. The liquidator then
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Maadurga Thermal Power Company Limited. Mr. Rajesh Kumar Agarwal was initially appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. Pankaj Dhanuka as the Resolution Professional (RP). Despite multiple extensions, no resolution plans were received within the stipulated 270-day period. Consequently, liquidation was ordered on 25.06.2019, and Mr. Pankaj Dhanuka was appointed as the liquidator. The liquidator conducted five rounds of e-auctions to sell the corporate debtor as a going concern but received no bids. In the sixth round, Thakur Prasad Sao & Sons Pvt. Ltd. was chosen as the highest bidder but did not respond. Subsequently, the 'Consortium' of Radhe
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Mr. Rajesh Kumar Agarwal was appointed as…
Prospective resolution applicants were…
The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016, for the closure of the liquidation process of Maadurga Thermal Power Company Limited. The corporate insolvency resolution process (CIRP) was initiated, and an interim resolution professional (IRP) was appointed. Subsequently, the IRP was replaced by a resolution professional (RP). Despite extending the deadline multiple times, no resolution plans were received within the stipulated 270-day period. Consequently, liquidation was ordered, and the applicant was appointed as the liquidator. The liquidator then
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Maadurga Thermal Power Company Limited. Mr. Rajesh Kumar Agarwal was initially appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. Pankaj Dhanuka as the Resolution Professional (RP). Despite multiple extensions, no resolution plans were received within the stipulated 270-day period. Consequently, liquidation was ordered on 25.06.2019, and Mr. Pankaj Dhanuka was appointed as the liquidator. The liquidator conducted five rounds of e-auctions to sell the corporate debtor as a going concern but received no bids. In the sixth round, Thakur Prasad Sao & Sons Pvt. Ltd. was chosen as the highest bidder but did not respond. Subsequently, the 'Consortium' of Radhe
…Mr. Rajesh Kumar Agarwal was appointed as…
Prospective resolution applicants were…