The case involves an application for the dissolution of the Corporate Debtor, Pellet Energy Systems Private Limited, which is undergoing liquidation. The liquidation process was initiated following the failure of a resolution plan. The Adjudicating Authority admitted the petition filed by Oriental Bank of Commerce (now merged with Punjab National Bank) on 20.07.2018 and appointed Ms. Reshma Mittal as the Interim Resolution Professional (IRP), who was later confirmed as the Resolution Professional (RP). Several resolution plans were submitted but not implemented, leading to the liquidation order on 26.08.2022. The liquidator sold the Corporate Debtor as a going concern to M/s Krishna Constellation Pvt Ltd. The liquidator filed a final report and sought closure of the
…On 20.07.2018, the Adjudicating Authority admitted a petition filed by Oriental Bank of Commerce (now merged with Punjab National Bank) against Pellet Energy Systems Private Limited, appointing Ms. Reshma Mittal as the Interim Resolution Professional (IRP). Ms. Mittal was later confirmed as the Resolution Professional (RP). Several resolution plans failed, leading to a liquidation order on 26.08.2022. Ms. Reshma Mittal was appointed as the Liquidator. The Corporate Debtor was sold as a going concern to M/s Krishna Constellation Pvt Ltd for INR 27.05 crores, which was 40% above the reserved price. The Liquidator filed a final report and sought closure of the liquidation process. The Liquidator also assigned 'Not Readily Realizable Assets' (NRRA), related to avoidance
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Adjudicating Authority admitted the petition…
Ms. Reshma Mittal was confirmed as the…
The case involves an application for the dissolution of the Corporate Debtor, Pellet Energy Systems Private Limited, which is undergoing liquidation. The liquidation process was initiated following the failure of a resolution plan. The Adjudicating Authority admitted the petition filed by Oriental Bank of Commerce (now merged with Punjab National Bank) on 20.07.2018 and appointed Ms. Reshma Mittal as the Interim Resolution Professional (IRP), who was later confirmed as the Resolution Professional (RP). Several resolution plans were submitted but not implemented, leading to the liquidation order on 26.08.2022. The liquidator sold the Corporate Debtor as a going concern to M/s Krishna Constellation Pvt Ltd. The liquidator filed a final report and sought closure of the
…On 20.07.2018, the Adjudicating Authority admitted a petition filed by Oriental Bank of Commerce (now merged with Punjab National Bank) against Pellet Energy Systems Private Limited, appointing Ms. Reshma Mittal as the Interim Resolution Professional (IRP). Ms. Mittal was later confirmed as the Resolution Professional (RP). Several resolution plans failed, leading to a liquidation order on 26.08.2022. Ms. Reshma Mittal was appointed as the Liquidator. The Corporate Debtor was sold as a going concern to M/s Krishna Constellation Pvt Ltd for INR 27.05 crores, which was 40% above the reserved price. The Liquidator filed a final report and sought closure of the liquidation process. The Liquidator also assigned 'Not Readily Realizable Assets' (NRRA), related to avoidance
…Adjudicating Authority admitted the petition…
Ms. Reshma Mittal was confirmed as the…