The case involves multiple Interlocutory Applications (IAs) filed in the Corporate Insolvency Resolution Process (CIRP) of Sangeeta Aviation Services Private Limited. IA 1395 of 2022 was filed by Supreme Transport Organisation Private Limited seeking directions to allow them to submit a resolution plan, which was rejected by the Committee of Creditors (CoC) because the applicant was deemed a related party. IA 438 of 2022 was filed by the Interim Resolution Professional (IRP) for liquidation of the corporate debtor under Section 33(1) of the Insolvency and Bankruptcy Code (IBC), 2016. IA 2742 of 2021 sought cooperation from the suspended board of directors.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Sangeeta Aviation Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, by an order dated 2021-08-10. Mr. Modilal Dhanraj Pamecha was initially appointed as the Interim Resolution Professional (IRP). Claims were invited from creditors, and the IRP received claims from financial creditors (Rs. 71,96,33,470), unsecured financial creditors (Rs. 1,64,26,038), and operational creditors (Rs. 73,71,47,148). The IRP formed a Committee of Creditors (CoC), with Gannon Dunkerley & Co. Ltd. being the sole unsecured financial creditor with 100% voting share. Subsequently, the applicant, Mr. Bijendra Kumar Jha, was appointed as the Resolution Professional (RP). An
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Corporate Insolvency Resolution Process…
Interim Resolution…
The case involves multiple Interlocutory Applications (IAs) filed in the Corporate Insolvency Resolution Process (CIRP) of Sangeeta Aviation Services Private Limited. IA 1395 of 2022 was filed by Supreme Transport Organisation Private Limited seeking directions to allow them to submit a resolution plan, which was rejected by the Committee of Creditors (CoC) because the applicant was deemed a related party. IA 438 of 2022 was filed by the Interim Resolution Professional (IRP) for liquidation of the corporate debtor under Section 33(1) of the Insolvency and Bankruptcy Code (IBC), 2016. IA 2742 of 2021 sought cooperation from the suspended board of directors.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Sangeeta Aviation Services Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, by an order dated 2021-08-10. Mr. Modilal Dhanraj Pamecha was initially appointed as the Interim Resolution Professional (IRP). Claims were invited from creditors, and the IRP received claims from financial creditors (Rs. 71,96,33,470), unsecured financial creditors (Rs. 1,64,26,038), and operational creditors (Rs. 73,71,47,148). The IRP formed a Committee of Creditors (CoC), with Gannon Dunkerley & Co. Ltd. being the sole unsecured financial creditor with 100% voting share. Subsequently, the applicant, Mr. Bijendra Kumar Jha, was appointed as the Resolution Professional (RP). An
…Corporate Insolvency Resolution Process…
Interim Resolution…