The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. M. K. Printech Private Limited on 20.09.2022. After 180 days, the Resolution Professional (RP) received only one Expression of Interest (EOI) from M/s Shanti G.D. Ispat & Power Private Limited, which ultimately did not submit a resolution plan. Consequently, on 16.03.2023, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor (CD). The CoC discussed the outcome of Form G publication and the possibilities of liquidation in previous meetings. The RP team had shared the information memorandum with prospective resolution applicants, but M/s Shanti G. D. Ispat & Power Private Limited expressed their inability to submit a resolution plan due to internal reasons.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. M. K. Printech Private Limited on 20.09.2022. The CIRP period of 180 days expired on 19.03.2023. The Resolution Professional (RP) received only one Expression of Interest (EOI) from M/s Shanti G.D. Ispat & Power Private Limited. M/s Shanti G.D. Ispat & Power Private Limited informed their inability to submit a resolution plan due to internal reasons on 17.02.2023. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor (CD) on 16.03.2023. The CoC's decision was influenced by the lack of resolution plans. The RP stated that suspended directors have not provided inventory records and fixed assets register. An application u/s 19(2) was filed with Hon'ble NCLT
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Corporate Insolvency Resolution Process…
The 180-day CIR…
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. M. K. Printech Private Limited on 20.09.2022. After 180 days, the Resolution Professional (RP) received only one Expression of Interest (EOI) from M/s Shanti G.D. Ispat & Power Private Limited, which ultimately did not submit a resolution plan. Consequently, on 16.03.2023, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor (CD). The CoC discussed the outcome of Form G publication and the possibilities of liquidation in previous meetings. The RP team had shared the information memorandum with prospective resolution applicants, but M/s Shanti G. D. Ispat & Power Private Limited expressed their inability to submit a resolution plan due to internal reasons.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. M. K. Printech Private Limited on 20.09.2022. The CIRP period of 180 days expired on 19.03.2023. The Resolution Professional (RP) received only one Expression of Interest (EOI) from M/s Shanti G.D. Ispat & Power Private Limited. M/s Shanti G.D. Ispat & Power Private Limited informed their inability to submit a resolution plan due to internal reasons on 17.02.2023. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor (CD) on 16.03.2023. The CoC's decision was influenced by the lack of resolution plans. The RP stated that suspended directors have not provided inventory records and fixed assets register. An application u/s 19(2) was filed with Hon'ble NCLT
…Corporate Insolvency Resolution Process…
The 180-day CIR…