The case pertains to an application filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, and Regulation 45 of the IBBI (Liquidation Process) Regulations, 2016, for the dissolution of SAV Industries Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 7 of the IBC, 2016. An Interim Resolution Professional (IRP) was appointed, and a Committee of Creditors (CoC) was constituted. The IRP made public announcements and received claims from financial and operational creditors. The RP appointed valuers to determine the liquidation and fair value of the corporate debtor. However, the valuers concluded that the Securities & Financial Assets (SFA) were valued at NIL. The Financial Creditor
…The Corporate Insolvency Resolution Process (CIRP) was initiated against SAV Industries Private Limited following an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Arun Kumar Gupta was appointed as the Resolution Professional (RP). The Interim Resolution Professional (IRP), Mr. Uday Narayan Mitra, made public announcements and received claims from creditors. The Committee of Creditors (CoC) was constituted on March 12, 2020. The RP appointed valuers to determine the liquidation and fair value of the corporate debtor's assets. However, the valuers concluded that the Securities & Financial Assets (SFA) were valued at NIL. The Financial Creditor (SBI) advised the IRP to engage SLO Technologies private Limited (ADVRISK) for asset
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CIRP was initiated…
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The case pertains to an application filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, and Regulation 45 of the IBBI (Liquidation Process) Regulations, 2016, for the dissolution of SAV Industries Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 7 of the IBC, 2016. An Interim Resolution Professional (IRP) was appointed, and a Committee of Creditors (CoC) was constituted. The IRP made public announcements and received claims from financial and operational creditors. The RP appointed valuers to determine the liquidation and fair value of the corporate debtor. However, the valuers concluded that the Securities & Financial Assets (SFA) were valued at NIL. The Financial Creditor
…The Corporate Insolvency Resolution Process (CIRP) was initiated against SAV Industries Private Limited following an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Arun Kumar Gupta was appointed as the Resolution Professional (RP). The Interim Resolution Professional (IRP), Mr. Uday Narayan Mitra, made public announcements and received claims from creditors. The Committee of Creditors (CoC) was constituted on March 12, 2020. The RP appointed valuers to determine the liquidation and fair value of the corporate debtor's assets. However, the valuers concluded that the Securities & Financial Assets (SFA) were valued at NIL. The Financial Creditor (SBI) advised the IRP to engage SLO Technologies private Limited (ADVRISK) for asset
…CIRP was initiated…
The IRP, Mr. Uday…
Sign in to view related legal provisions.