The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Om Shakti Renergies Ltd by Isgec Covema Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was initiated vide order dated 16.09.2019. Subsequently, the Committee of Creditors (COC) resolved for the liquidation of the Corporate Debtor. An application for liquidation was allowed on 25.11.2020, and a liquidator was appointed. The liquidator took steps to liquidate the assets, including public announcements, appointment of valuers, and sale of assets. The liquidator also consulted with the Stakeholders Consultation Committee (SCC) regarding the assignment of Not Readily Realisable Assets (NRRA). The liquidator distributed the realized amount to the
…Isgec Covema Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Om Shakti Renergies Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was initiated on 16.09.2019. Rajesh Chillale was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (COC) resolved for liquidation on 22.11.2019 with 100% voting. IA No. 03/2020 for liquidation was allowed on 25.11.2020, and Rajesh Chillale was appointed as the Liquidator. Public announcements were made on 02.12.2020. Two registered valuers were appointed for valuation of land & building assets, and two were appointed for plant & machinery assets. A preliminary report and asset memorandum were submitted on
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Corporate Insolvency…
The Committee of Creditors (COC) resolved for…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Om Shakti Renergies Ltd by Isgec Covema Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was initiated vide order dated 16.09.2019. Subsequently, the Committee of Creditors (COC) resolved for the liquidation of the Corporate Debtor. An application for liquidation was allowed on 25.11.2020, and a liquidator was appointed. The liquidator took steps to liquidate the assets, including public announcements, appointment of valuers, and sale of assets. The liquidator also consulted with the Stakeholders Consultation Committee (SCC) regarding the assignment of Not Readily Realisable Assets (NRRA). The liquidator distributed the realized amount to the
…Isgec Covema Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Om Shakti Renergies Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was initiated on 16.09.2019. Rajesh Chillale was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (COC) resolved for liquidation on 22.11.2019 with 100% voting. IA No. 03/2020 for liquidation was allowed on 25.11.2020, and Rajesh Chillale was appointed as the Liquidator. Public announcements were made on 02.12.2020. Two registered valuers were appointed for valuation of land & building assets, and two were appointed for plant & machinery assets. A preliminary report and asset memorandum were submitted on
…Corporate Insolvency…
The Committee of Creditors (COC) resolved for…