The case involves an Interlocutory Application (IA 1352/2023) in the matter of the Corporate Debtor, Pawar Electro Systems Pvt Ltd, which was undergoing Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. IDBI Bank Limited, the Financial Creditor, initiated the CIRP. The Resolution Professional (RP) sought liquidation of the Corporate Debtor under Section 33 of the IBC. The RP had published Expression of Interest (EOI) but received no response. The Committee of Creditors (CoC) ultimately approved the proposal to put the Corporate Debtor into liquidation.
IDBI Bank Ltd initiated CIRP against Pawar Electro Systems Pvt Ltd under Section 7 of the IBC, 2016. Mr. Girish Siriram Juneja was appointed as the Interim Resolution Professional. The Corporate Debtor was placed under CIRP on 2019-09-06. The RP published a public announcement in Form A and invited Expressions of Interest (EOI) in Form G. Despite extending the deadline, no EOIs were received. The CoC approved the liquidation of the Corporate Debtor. The RP filed an affidavit stating the CoC's resolution for liquidation. The present Interlocutory Application was listed on 2022-06-28, and the CoC approved the proposal for liquidation. The CoC passed a resolution for approving the Liquidation of the Corporate Debtor on 2022-07-14. The Resolution Professional of the
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The Corporate Debtor was placed under CIRP…
The short Order dt. 06.09.2019, passed in the…
The case involves an Interlocutory Application (IA 1352/2023) in the matter of the Corporate Debtor, Pawar Electro Systems Pvt Ltd, which was undergoing Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. IDBI Bank Limited, the Financial Creditor, initiated the CIRP. The Resolution Professional (RP) sought liquidation of the Corporate Debtor under Section 33 of the IBC. The RP had published Expression of Interest (EOI) but received no response. The Committee of Creditors (CoC) ultimately approved the proposal to put the Corporate Debtor into liquidation.
IDBI Bank Ltd initiated CIRP against Pawar Electro Systems Pvt Ltd under Section 7 of the IBC, 2016. Mr. Girish Siriram Juneja was appointed as the Interim Resolution Professional. The Corporate Debtor was placed under CIRP on 2019-09-06. The RP published a public announcement in Form A and invited Expressions of Interest (EOI) in Form G. Despite extending the deadline, no EOIs were received. The CoC approved the liquidation of the Corporate Debtor. The RP filed an affidavit stating the CoC's resolution for liquidation. The present Interlocutory Application was listed on 2022-06-28, and the CoC approved the proposal for liquidation. The CoC passed a resolution for approving the Liquidation of the Corporate Debtor on 2022-07-14. The Resolution Professional of the
…The Corporate Debtor was placed under CIRP…
The short Order dt. 06.09.2019, passed in the…