The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, Nexus Electro Steel Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 30.03.2021, and Mr. Mathur Sabhapathy Viswanathan was appointed as the Interim Resolution Professional (IRP). The IRP issued Form-G inviting Expression of Interest (EoI) from Prospective Resolution Applicants (PRA), but no eligible EoI was received. The Adjudicating Authority appointed the Applicant as the Resolution Professional (RP) on 01.02.2022. The RP appointed SPR & Co Chartered Accountants to conduct a forensic audit and filed two applications under Section 66 of IBC, 2016. The Resolution Plans
…The Corporate Insolvency Resolution Process (CIRP) was initiated for Nexus Electro Steel Limited on 2021-03-30. Mathur Sabhapathy Viswanathan was appointed as the Interim Resolution Professional (IRP). The IRP issued Form-G to invite Expression of Interest (EoI) from Prospective Resolution Applicants (PRA), but no eligible EoI was received. Radhakrishnan Dharmarajan was appointed as the Resolution Professional (RP) on 2022-02-01. The RP appointed SPR & Co Chartered Accountants to conduct a forensic audit. The Resolution Plans submitted before the CoC received only 21% vote in favor and were not approved. In the 17th meeting of the CoC held on 2022-06-23, the CoC offered its consent to liquidate the Corporate Debtor. The RP filed an application under Section 33(2)
…Sign in to view the parties.
Corporate Insolvency Resolution Process…
The IRP caused…
The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, Nexus Electro Steel Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 30.03.2021, and Mr. Mathur Sabhapathy Viswanathan was appointed as the Interim Resolution Professional (IRP). The IRP issued Form-G inviting Expression of Interest (EoI) from Prospective Resolution Applicants (PRA), but no eligible EoI was received. The Adjudicating Authority appointed the Applicant as the Resolution Professional (RP) on 01.02.2022. The RP appointed SPR & Co Chartered Accountants to conduct a forensic audit and filed two applications under Section 66 of IBC, 2016. The Resolution Plans
…The Corporate Insolvency Resolution Process (CIRP) was initiated for Nexus Electro Steel Limited on 2021-03-30. Mathur Sabhapathy Viswanathan was appointed as the Interim Resolution Professional (IRP). The IRP issued Form-G to invite Expression of Interest (EoI) from Prospective Resolution Applicants (PRA), but no eligible EoI was received. Radhakrishnan Dharmarajan was appointed as the Resolution Professional (RP) on 2022-02-01. The RP appointed SPR & Co Chartered Accountants to conduct a forensic audit. The Resolution Plans submitted before the CoC received only 21% vote in favor and were not approved. In the 17th meeting of the CoC held on 2022-06-23, the CoC offered its consent to liquidate the Corporate Debtor. The RP filed an application under Section 33(2)
…Corporate Insolvency Resolution Process…
The IRP caused…