The Resolution Professional (RP) filed an application seeking liquidation of the Corporate Debtor, Stan Autos Private Limited, as no resolution plan was received. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 2022-02-18, following a petition by the Financial Creditor, Mahindra and Mahindra Financial Services, under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Rajesh Kumar Mittal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vijay Kumar Saxena as RP on 2022-06-06.
Mahindra and Mahindra Financial Services 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 Stan Autos Private Limited on 2022-02-18. Rajesh Kumar Mittal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Vijay Kumar Saxena as the RP on 2022-06-06. The Committee of Creditors (CoC) was constituted on 2022-10-27, with State Bank of India holding the largest voting share (50.69%). Three Expressions of Interest (EOIs) were received but deemed unfeasible by the CoC. In a meeting on 2023-01-18, the CoC, with 83.81% voting share, recommended liquidation and the appointment of Vijay Kishore Saxena as the liquidator. The RP then
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The Adjudicating Authority initiated the…
Mr. Vijay Kumar Saxena was appointed as the…
The Resolution Professional (RP) filed an application seeking liquidation of the Corporate Debtor, Stan Autos Private Limited, as no resolution plan was received. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 2022-02-18, following a petition by the Financial Creditor, Mahindra and Mahindra Financial Services, under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Rajesh Kumar Mittal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vijay Kumar Saxena as RP on 2022-06-06.
Mahindra and Mahindra Financial Services 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 Stan Autos Private Limited on 2022-02-18. Rajesh Kumar Mittal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Vijay Kumar Saxena as the RP on 2022-06-06. The Committee of Creditors (CoC) was constituted on 2022-10-27, with State Bank of India holding the largest voting share (50.69%). Three Expressions of Interest (EOIs) were received but deemed unfeasible by the CoC. In a meeting on 2023-01-18, the CoC, with 83.81% voting share, recommended liquidation and the appointment of Vijay Kishore Saxena as the liquidator. The RP then
…The Adjudicating Authority initiated the…
Mr. Vijay Kumar Saxena was appointed as the…