The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code, 2016, by Ms. Nishi Jain, the Resolution Professional (RP) of Salasar Enterprises Private Limited, seeking a Liquidation Order and her appointment as liquidator. The application was based on a resolution passed by the Committee of Creditors (CoC) in its 5th meeting held on March 15, 2021, with the requisite majority. The Adjudicating Authority had previously initiated the Corporate Insolvency Resolution Process (CIRP) against Salasar Enterprises Private Limited based on a petition filed by Hirfal Interiors, an Operational Creditor, under Section 9 of the Code, and appointed Ms. Nishi Jain as the Interim Resolution Professional (IRP).
Hirfal Interiors, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Salasar Enterprises Private Limited. Ms. Nishi Jain was appointed as the Interim Resolution Professional (IRP). During the CIRP, five meetings of the Committee of Creditors (CoC) were held. An Expression of Interest (EoI) was issued to invite prospective Resolution Applicants, but no responses were received for the Information Memorandum and Letter of Undertaking. Consequently, the CoC, with 100% voting share, passed a resolution on March 15, 2021, to liquidate the Corporate Debtor and appoint Ms. Nishi Jain as the liquidator. The Adjudicating Authority, after
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The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code, 2016, by Ms. Nishi Jain, the Resolution Professional (RP) of Salasar Enterprises Private Limited, seeking a Liquidation Order and her appointment as liquidator. The application was based on a resolution passed by the Committee of Creditors (CoC) in its 5th meeting held on March 15, 2021, with the requisite majority. The Adjudicating Authority had previously initiated the Corporate Insolvency Resolution Process (CIRP) against Salasar Enterprises Private Limited based on a petition filed by Hirfal Interiors, an Operational Creditor, under Section 9 of the Code, and appointed Ms. Nishi Jain as the Interim Resolution Professional (IRP).
Hirfal Interiors, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Salasar Enterprises Private Limited. Ms. Nishi Jain was appointed as the Interim Resolution Professional (IRP). During the CIRP, five meetings of the Committee of Creditors (CoC) were held. An Expression of Interest (EoI) was issued to invite prospective Resolution Applicants, but no responses were received for the Information Memorandum and Letter of Undertaking. Consequently, the CoC, with 100% voting share, passed a resolution on March 15, 2021, to liquidate the Corporate Debtor and appoint Ms. Nishi Jain as the liquidator. The Adjudicating Authority, after
…Adjudicating Authority directed initiation of…
Public announcement in Form A was published in…