The case pertains to an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Shalibhadra Cottrade Pvt. Ltd., due to the absence of a viable resolution plan. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition by Bank of Baroda (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Vikas Prakash Gupta was appointed as the Interim Resolution Professional (IRP).
Bank of Baroda, a Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Shalibhadra Cottrade Pvt. Ltd. Mr. Vikas Prakash Gupta was appointed as the Interim Resolution Professional (IRP). The IRP published a public announcement inviting claims from creditors. Claims were received from Bank of Baroda and other financial creditors including Axis Bank, Shriram City Union Finance, RBL Bank Ltd, HDFC Bank Ltd. and IndusInd Bank Ltd. The Committee of Creditors (CoC) was constituted and later reconstituted. The CoC decided against extending the CIRP and unanimously voted for the liquidation of the Corporate Debtor. The RP filed IA 487 of 2021 for
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The Adjudicating Authority passed an order for…
The Interim Resolution Professional (IRP)…
The case pertains to an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Shalibhadra Cottrade Pvt. Ltd., due to the absence of a viable resolution plan. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition by Bank of Baroda (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Vikas Prakash Gupta was appointed as the Interim Resolution Professional (IRP).
Bank of Baroda, a Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Shalibhadra Cottrade Pvt. Ltd. Mr. Vikas Prakash Gupta was appointed as the Interim Resolution Professional (IRP). The IRP published a public announcement inviting claims from creditors. Claims were received from Bank of Baroda and other financial creditors including Axis Bank, Shriram City Union Finance, RBL Bank Ltd, HDFC Bank Ltd. and IndusInd Bank Ltd. The Committee of Creditors (CoC) was constituted and later reconstituted. The CoC decided against extending the CIRP and unanimously voted for the liquidation of the Corporate Debtor. The RP filed IA 487 of 2021 for
…The Adjudicating Authority passed an order for…
The Interim Resolution Professional (IRP)…