The case pertains to IA(IBC)/650(CHE)/2023 filed in CP(IB)/272(CHE)/2021, concerning Rai Ispat Private Limited. The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated by the Adjudicating Authority. The applicant, Mr. Asir Raja Selvan, the Resolution Professional, sought an order for the liquidation of the Corporate Debtor, Rai Ispat Private Limited, and to be appointed as the Liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Rai Ispat Private Limited. Mr. Asir Raja Selvan was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Claims were received from a Financial Creditor for Rs. 26,73,22,719.70 and from an Operational Creditor, Moorgate Industries, for Rs. 12,51,80,263.01. The Committee of Creditors (CoC) was constituted with the Financial Creditor having 100% voting rights. The 1st CoC meeting deferred the appointment of the applicant as the RP. Ms. Subramaniam Aneetha was later appointed as the RP. The Sole Financial Creditor in the CoC stated that there were no assets in the Corporate Debtor and requested the IRP to take action for processing liquidation. The
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Order passed on 16.03.2022, appointing the…
1st meeting of the CoC was held on…
The case pertains to IA(IBC)/650(CHE)/2023 filed in CP(IB)/272(CHE)/2021, concerning Rai Ispat Private Limited. The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated by the Adjudicating Authority. The applicant, Mr. Asir Raja Selvan, the Resolution Professional, sought an order for the liquidation of the Corporate Debtor, Rai Ispat Private Limited, and to be appointed as the Liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Rai Ispat Private Limited. Mr. Asir Raja Selvan was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Claims were received from a Financial Creditor for Rs. 26,73,22,719.70 and from an Operational Creditor, Moorgate Industries, for Rs. 12,51,80,263.01. The Committee of Creditors (CoC) was constituted with the Financial Creditor having 100% voting rights. The 1st CoC meeting deferred the appointment of the applicant as the RP. Ms. Subramaniam Aneetha was later appointed as the RP. The Sole Financial Creditor in the CoC stated that there were no assets in the Corporate Debtor and requested the IRP to take action for processing liquidation. The
…Order passed on 16.03.2022, appointing the…
1st meeting of the CoC was held on…