The case involves an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, Sun Acrylics Pvt. Ltd., under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 19.11.2019, following a petition filed by the Operational Creditor under Section 9 of the Code. Mr. Vijay P. Lulla was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). An advertisement inviting Expression of Interest (EoI) was published on 27.11.2019, but the applicant received claims from various creditors. The RP also appointed two registered valuers as required under Regulation 27 of the IBBI

The case involves an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, Sun Acrylics Pvt. Ltd., under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on 19.11.2019, following a petition filed by the Operational Creditor under Section 9 of the Code. Mr. Vijay P. Lulla was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). An advertisement inviting Expression of Interest (EoI) was published on 27.11.2019, but the applicant received claims from various creditors. The RP also appointed two registered valuers as required under Regulation 27 of the IBBI