The case pertains to IA No. 1196/2023 in CP(IB) No. 346/7/HDB/2018, concerning the liquidation process of M/s Metkore Alloys & Industries Ltd. initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed by the liquidator, Sisir Kumar Appikatla, seeking approval for the closure of the liquidation process as per Regulation 45(3)(a) of the IBBI (Liquidation Process) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by M/s Hero Wiretex Limited, and Sisir Kumar Appikatla was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Due to the absence of an approved resolution plan, liquidation was ordered. The liquidator took
…M/s Metkore Alloys & Industries Ltd. underwent Corporate Insolvency Resolution Process (CIRP) initiated by M/s Hero Wiretex Limited under Section 7 of the IBC. Sisir Kumar Appikatla was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Due to the absence of an approved resolution plan, liquidation was ordered. The liquidator, Sisir Kumar Appikatla, initiated the liquidation process, made public announcements, informed stakeholders, and appointed valuers to ascertain the value of the assets. The liquidator constituted a stakeholders' consultation committee and conducted meetings to update and discuss various activities. The sale of the Corporate Debtor was conducted as a going concern, and Mr. Sudhakar Bodugu
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The case pertains to IA No. 1196/2023 in CP(IB) No. 346/7/HDB/2018, concerning the liquidation process of M/s Metkore Alloys & Industries Ltd. initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed by the liquidator, Sisir Kumar Appikatla, seeking approval for the closure of the liquidation process as per Regulation 45(3)(a) of the IBBI (Liquidation Process) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by M/s Hero Wiretex Limited, and Sisir Kumar Appikatla was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Due to the absence of an approved resolution plan, liquidation was ordered. The liquidator took
…M/s Metkore Alloys & Industries Ltd. underwent Corporate Insolvency Resolution Process (CIRP) initiated by M/s Hero Wiretex Limited under Section 7 of the IBC. Sisir Kumar Appikatla was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Due to the absence of an approved resolution plan, liquidation was ordered. The liquidator, Sisir Kumar Appikatla, initiated the liquidation process, made public announcements, informed stakeholders, and appointed valuers to ascertain the value of the assets. The liquidator constituted a stakeholders' consultation committee and conducted meetings to update and discuss various activities. The sale of the Corporate Debtor was conducted as a going concern, and Mr. Sudhakar Bodugu
…Tribunal passed an order for Corporate…
Tribunal admitted an…