The case involves an application filed by secured financial creditors seeking liquidation of Mono Acriglass Industries Limited, the corporate debtor, under Section 33 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor had initiated Corporate Insolvency Resolution Process (CIRP) against itself under Section 10 of the Code. An Interim Resolution Professional (IRP) was appointed, followed by the appointment of Ms. Anjali Nirav Choksi as IRP. The Committee of Creditors (CoC) deliberated on the condition of the corporate debtor, which had been non-functional since 2002, leading to a decision to seek liquidation. The CoC rejected a proposal for extension of the CIRP period and directed the IRP to proceed with liquidation. The applicants sought the appointment
…Mono Acriglass Industries Limited, the corporate applicant, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, initiating CIRP against itself. Mr. Mahendra Prasad Jindal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Ms. Anjali Nirav Choksi. The corporate debtor had been non-functional and shut down since 2002, with its machinery becoming scrap and the land and building in dilapidated condition. The Committee of Creditors (CoC) deliberated on the condition of the corporate debtor and decided to seek liquidation. A proposal by the Resolution Professional (RP) to extend the CIRP period was rejected by the CoC. The CoC unanimously resolved for liquidation. The CoC proposed the name of Mr. Ashish Shah
…Sign in to view the parties.
The Corporate applicant, M/s. Mono Acriglass…
Mr. Mahendra Prasad Jindal was appointed to act…
The case involves an application filed by secured financial creditors seeking liquidation of Mono Acriglass Industries Limited, the corporate debtor, under Section 33 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor had initiated Corporate Insolvency Resolution Process (CIRP) against itself under Section 10 of the Code. An Interim Resolution Professional (IRP) was appointed, followed by the appointment of Ms. Anjali Nirav Choksi as IRP. The Committee of Creditors (CoC) deliberated on the condition of the corporate debtor, which had been non-functional since 2002, leading to a decision to seek liquidation. The CoC rejected a proposal for extension of the CIRP period and directed the IRP to proceed with liquidation. The applicants sought the appointment
…Mono Acriglass Industries Limited, the corporate applicant, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, initiating CIRP against itself. Mr. Mahendra Prasad Jindal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Ms. Anjali Nirav Choksi. The corporate debtor had been non-functional and shut down since 2002, with its machinery becoming scrap and the land and building in dilapidated condition. The Committee of Creditors (CoC) deliberated on the condition of the corporate debtor and decided to seek liquidation. A proposal by the Resolution Professional (RP) to extend the CIRP period was rejected by the CoC. The CoC unanimously resolved for liquidation. The CoC proposed the name of Mr. Ashish Shah
…The Corporate applicant, M/s. Mono Acriglass…
Mr. Mahendra Prasad Jindal was appointed to act…