The case involves multiple IAs filed under the Insolvency and Bankruptcy Code, 2016, concerning the Corporate Insolvency Resolution Process (CIRP) of three sister companies: Shree Sai Rolling Mills India Limited, Shree Sai Smelters India Limited, and Shree Sai Prakash Alloys Private Limited. The CIRP was initiated following an order by the Tribunal on 23.08.2019. Appeals were filed before the NCLAT and subsequently the Supreme Court, leading to remands for fresh adjudication. The Tribunal admitted the company petitions on 30.09.2023. Mr. Amit Pareek was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP made public announcements, constituted a Committee of Creditors (CoC), and invited expressions of
…The Corporate Insolvency Resolution Process (CIRP) was initiated for Shree Sai Rolling Mills India Limited, Shree Sai Smelters India Limited, and Shree Sai Prakash Alloys Private Limited following an order of the NCLT on 23.08.2019. The Corporate Debtors (CD) filed appeals before the NCLAT, which were allowed on 18.06.2020. The Financial Creditor (FC), Punjab National Bank, appealed to the Supreme Court, which allowed the appeals on 14.07.2022 and remanded the matters to NCLAT. On 02.09.2022, the NCLAT dismissed the CD's appeals and remanded the matter to NCLT for fresh hearing. The NCLT admitted the Company Petitions on 30.09.2023. Mr. Amit Pareek was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP
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Tribunal initiated the Corporate Insolvency…
NCLAT allowed the…
The case involves multiple IAs filed under the Insolvency and Bankruptcy Code, 2016, concerning the Corporate Insolvency Resolution Process (CIRP) of three sister companies: Shree Sai Rolling Mills India Limited, Shree Sai Smelters India Limited, and Shree Sai Prakash Alloys Private Limited. The CIRP was initiated following an order by the Tribunal on 23.08.2019. Appeals were filed before the NCLAT and subsequently the Supreme Court, leading to remands for fresh adjudication. The Tribunal admitted the company petitions on 30.09.2023. Mr. Amit Pareek was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP made public announcements, constituted a Committee of Creditors (CoC), and invited expressions of
…The Corporate Insolvency Resolution Process (CIRP) was initiated for Shree Sai Rolling Mills India Limited, Shree Sai Smelters India Limited, and Shree Sai Prakash Alloys Private Limited following an order of the NCLT on 23.08.2019. The Corporate Debtors (CD) filed appeals before the NCLAT, which were allowed on 18.06.2020. The Financial Creditor (FC), Punjab National Bank, appealed to the Supreme Court, which allowed the appeals on 14.07.2022 and remanded the matters to NCLAT. On 02.09.2022, the NCLAT dismissed the CD's appeals and remanded the matter to NCLT for fresh hearing. The NCLT admitted the Company Petitions on 30.09.2023. Mr. Amit Pareek was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP
…Tribunal initiated the Corporate Insolvency…
NCLAT allowed the…