The application was filed by the Resolution Professional of SAV Wires Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, seeking exclusion of 61 days from the total time period of the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority had admitted the petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, vide order dated 16.12.2022, and appointed Mr. Uday Narayan Mitra as the Interim Resolution Professional (IRP). However, Mr. Mitra declined to continue as the IRP due to the expiry of the authorization for assignment. Subsequently, the Financial Creditor filed an application seeking change and/or replacement of the IRP, and the
…State Bank of India initiated CIRP against SAV Wires Private Limited. The Adjudicating Authority admitted the petition on 2022-12-16 and appointed Mr. Uday Narayan Mitra as the Interim Resolution Professional (IRP). Mr. Mitra declined to continue as IRP due to the expiry of his authorization. The Financial Creditor then filed an application for the appointment of a new IRP, and CA Santanu Brahma was appointed. The applicant, CA Santanu Brahma, sought exclusion of 61 days from the CIRP period, specifically from 2022-12-16 to 2023-02-15, because he could not proceed with the CIRP during that time. The Suspended Board of Directors of the Corporate Debtor failed to cooperate and provide necessary documents. The registered office of the Corporate Debtor was sealed by the
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The Adjudicating Authority admitted the…
Mr. Uday Narayan Mitra…
The application was filed by the Resolution Professional of SAV Wires Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, seeking exclusion of 61 days from the total time period of the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority had admitted the petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, vide order dated 16.12.2022, and appointed Mr. Uday Narayan Mitra as the Interim Resolution Professional (IRP). However, Mr. Mitra declined to continue as the IRP due to the expiry of the authorization for assignment. Subsequently, the Financial Creditor filed an application seeking change and/or replacement of the IRP, and the
…State Bank of India initiated CIRP against SAV Wires Private Limited. The Adjudicating Authority admitted the petition on 2022-12-16 and appointed Mr. Uday Narayan Mitra as the Interim Resolution Professional (IRP). Mr. Mitra declined to continue as IRP due to the expiry of his authorization. The Financial Creditor then filed an application for the appointment of a new IRP, and CA Santanu Brahma was appointed. The applicant, CA Santanu Brahma, sought exclusion of 61 days from the CIRP period, specifically from 2022-12-16 to 2023-02-15, because he could not proceed with the CIRP during that time. The Suspended Board of Directors of the Corporate Debtor failed to cooperate and provide necessary documents. The registered office of the Corporate Debtor was sealed by the
…The Adjudicating Authority admitted the…
Mr. Uday Narayan Mitra…