The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the Resolution Professional (RP) of SAV Steels Private Limited, the Corporate Debtor, seeking initiation of liquidation proceedings. The Corporate Insolvency Resolution Process (CIRP) was initiated against SAV Steels Private Limited based on a petition filed by the Financial Creditor, State Bank of India, under Section 7 of the IBC. The CIRP commenced on October 28, 2022. The Interim Resolution Professional (IRP) was appointed and public announcements were made to invite claims from creditors. Despite these efforts, no resolution plan was received, and the Committee of Creditors (CoC) advised the IRP to apply for liquidation.
State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against SAV Steels Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on October 28, 2022. Mr. Uday Narayan Mitra was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors, with the last date for submission being November 11, 2022. State Bank of India was the sole financial creditor, forming the Committee of Creditors (CoC). The IRP held six CoC meetings between November 25, 2022, and April 17, 2023. The IRP published Form G twice to invite expression of interest, but received no response. The CIRP period expired on January 1, 2023, without any resolution plan being received. The
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Corporate Insolvency Resolution Process…
Public announcement in Form A published in…
The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the Resolution Professional (RP) of SAV Steels Private Limited, the Corporate Debtor, seeking initiation of liquidation proceedings. The Corporate Insolvency Resolution Process (CIRP) was initiated against SAV Steels Private Limited based on a petition filed by the Financial Creditor, State Bank of India, under Section 7 of the IBC. The CIRP commenced on October 28, 2022. The Interim Resolution Professional (IRP) was appointed and public announcements were made to invite claims from creditors. Despite these efforts, no resolution plan was received, and the Committee of Creditors (CoC) advised the IRP to apply for liquidation.
State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against SAV Steels Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on October 28, 2022. Mr. Uday Narayan Mitra was appointed as the Interim Resolution Professional (IRP). Public announcements were made to invite claims from creditors, with the last date for submission being November 11, 2022. State Bank of India was the sole financial creditor, forming the Committee of Creditors (CoC). The IRP held six CoC meetings between November 25, 2022, and April 17, 2023. The IRP published Form G twice to invite expression of interest, but received no response. The CIRP period expired on January 1, 2023, without any resolution plan being received. The
…Corporate Insolvency Resolution Process…
Public announcement in Form A published in…