The case involves an application under Section 12A of the IBC, 2016, filed by the Bank of Maharashtra, read with Regulation 30A (1) of CIRP Regulations, 2016. The Resolution Professional (RP) had published Form-G for inviting resolution plans on May 26, 2022, but no expression of interest was received. The agenda for extending the CIRP period was rejected by the Committee of Creditors (CoC). Subsequently, the RP proposed liquidation, but the CoC did not vote in favor of it and expressed unwillingness to liquidate the Corporate Debtor.
Manoj Jain Prop. Maxwell India is the Operational Creditor/Applicant. Romesh Power Products Pvt. Ltd. is the Corporate Debtor/Respondent. The Resolution Professional published Form-G for invitation of Resolution Plan on 2022-05-26, but no expression of interest was received. The agenda for extension of the CIRP period was rejected by the CoC on 2022-06-18. The RP put an agenda for liquidation of the Corporate Debtor, but the CoC did not vote on the resolution for liquidation and does not want to liquidate the Corporate Debtor. The Members of CoC decided to withdraw the CIRP of the Corporate Debtor. The erstwhile RP was having key of rented premises and some of the records of the Corporate Debtor is lying in the rented premises. The RP has taken key from the erstwhile
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The case involves an application under Section 12A of the IBC, 2016, filed by the Bank of Maharashtra, read with Regulation 30A (1) of CIRP Regulations, 2016. The Resolution Professional (RP) had published Form-G for inviting resolution plans on May 26, 2022, but no expression of interest was received. The agenda for extending the CIRP period was rejected by the Committee of Creditors (CoC). Subsequently, the RP proposed liquidation, but the CoC did not vote in favor of it and expressed unwillingness to liquidate the Corporate Debtor.
Manoj Jain Prop. Maxwell India is the Operational Creditor/Applicant. Romesh Power Products Pvt. Ltd. is the Corporate Debtor/Respondent. The Resolution Professional published Form-G for invitation of Resolution Plan on 2022-05-26, but no expression of interest was received. The agenda for extension of the CIRP period was rejected by the CoC on 2022-06-18. The RP put an agenda for liquidation of the Corporate Debtor, but the CoC did not vote on the resolution for liquidation and does not want to liquidate the Corporate Debtor. The Members of CoC decided to withdraw the CIRP of the Corporate Debtor. The erstwhile RP was having key of rented premises and some of the records of the Corporate Debtor is lying in the rented premises. The RP has taken key from the erstwhile
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