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 26.05.2022, but no expression of interest was received. The agenda for extension of 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. The CoC decided to withdraw the CIRP.
Manoj Jain Prop. Maxwell India initiated a Corporate Insolvency Resolution Process (CIRP) against Romesh Power Products Pvt. Ltd. under Section 9 of the IBC, 2016. The Bank of Maharashtra filed an application under Section 12A of the IBC, 2016 read with Regulation 30A (1) of CIRP Regulations, 2016, seeking to withdraw the CIRP. The Resolution Professional (RP) published Form-G on 2022-05-26 to invite resolution plans, but no expressions of interest were received. The Committee of Creditors (CoC) rejected the extension of the CIRP period and did not approve the liquidation of the Corporate Debtor. The CoC decided to withdraw the CIRP. The RP held the keys to the rented premises and some records of the Corporate Debtor. The erstwhile RP had possession of the records. The
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Agenda for extension of…
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 26.05.2022, but no expression of interest was received. The agenda for extension of 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. The CoC decided to withdraw the CIRP.
Manoj Jain Prop. Maxwell India initiated a Corporate Insolvency Resolution Process (CIRP) against Romesh Power Products Pvt. Ltd. under Section 9 of the IBC, 2016. The Bank of Maharashtra filed an application under Section 12A of the IBC, 2016 read with Regulation 30A (1) of CIRP Regulations, 2016, seeking to withdraw the CIRP. The Resolution Professional (RP) published Form-G on 2022-05-26 to invite resolution plans, but no expressions of interest were received. The Committee of Creditors (CoC) rejected the extension of the CIRP period and did not approve the liquidation of the Corporate Debtor. The CoC decided to withdraw the CIRP. The RP held the keys to the rented premises and some records of the Corporate Debtor. The erstwhile RP had possession of the records. The
…Resolution Professional…
Agenda for extension of…