The case involves an application for the dissolution of Poscho Steels Private Limited, a corporate debtor, after the completion of the liquidation process under the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor under Section 7 of the IBC, 2016, with the order dated 09.07.2019. The applicant, Mr. Manish Shah, was appointed as the IRP and later confirmed as RP. The liquidation process commenced following the recommendations of the Committee of Creditors (CoC).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Poscho Steels Private Limited under Section 7 of the IBC, 2016, on 09.07.2019. Manish Shah was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC) recommended the commencement of liquidation proceedings, and a liquidation order was issued on 23.03.2021. Public announcements were made to invite claims from stakeholders. The total current assets of the corporate debtor were INR 5556.79 lakhs, including trade receivables of INR 5556.29 lakhs, while the total current liabilities were INR 9212.91 lakhs. The receivables of INR 5556.29 lakhs were categorized as 'Not Readily Realisable Assets' (NRRA). An
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The case involves an application for the dissolution of Poscho Steels Private Limited, a corporate debtor, after the completion of the liquidation process under the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor under Section 7 of the IBC, 2016, with the order dated 09.07.2019. The applicant, Mr. Manish Shah, was appointed as the IRP and later confirmed as RP. The liquidation process commenced following the recommendations of the Committee of Creditors (CoC).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Poscho Steels Private Limited under Section 7 of the IBC, 2016, on 09.07.2019. Manish Shah was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC) recommended the commencement of liquidation proceedings, and a liquidation order was issued on 23.03.2021. Public announcements were made to invite claims from stakeholders. The total current assets of the corporate debtor were INR 5556.79 lakhs, including trade receivables of INR 5556.29 lakhs, while the total current liabilities were INR 9212.91 lakhs. The receivables of INR 5556.29 lakhs were categorized as 'Not Readily Realisable Assets' (NRRA). An
…CIRP initiated against…
Applicant appo…
Sign in to view related legal provisions.