The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Super Shiv Shakti Chemicals Private Limited. Punjab National Bank (formerly Oriental Bank of Commerce) initiated the CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted by the Adjudicating Authority, and Mr. Brajesh Kumar Varma was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Rishabh Chand Lodha replaced Mr. Varma as the Resolution Professional (RP). The RP then filed an application seeking approval of the resolution plan approved by the Committee of Creditors (CoC).
Punjab National Bank (formerly Oriental Bank of Commerce) initiated CIRP against Super Shiv Shakti Chemicals Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted, and Mr. Brajesh Kumar Varma was appointed as the IRP, later replaced by Mr. Rishabh Chand Lodha. Public announcements were made on 2020-01-15, inviting claims from creditors. The CoC was constituted on 2020-02-03, with Punjab National Bank holding 100% voting rights. Several CoC meetings were held to discuss and approve the resolution plan. The RP admitted claims from two financial creditors, four workmen & employees, and twelve operational creditors. The CoC approved the resolution application of Resolution Applicant No. 1. The fair value of the
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Company Petit…
CIRP proceedings initiated against the…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Super Shiv Shakti Chemicals Private Limited. Punjab National Bank (formerly Oriental Bank of Commerce) initiated the CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted by the Adjudicating Authority, and Mr. Brajesh Kumar Varma was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Rishabh Chand Lodha replaced Mr. Varma as the Resolution Professional (RP). The RP then filed an application seeking approval of the resolution plan approved by the Committee of Creditors (CoC).
Punjab National Bank (formerly Oriental Bank of Commerce) initiated CIRP against Super Shiv Shakti Chemicals Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted, and Mr. Brajesh Kumar Varma was appointed as the IRP, later replaced by Mr. Rishabh Chand Lodha. Public announcements were made on 2020-01-15, inviting claims from creditors. The CoC was constituted on 2020-02-03, with Punjab National Bank holding 100% voting rights. Several CoC meetings were held to discuss and approve the resolution plan. The RP admitted claims from two financial creditors, four workmen & employees, and twelve operational creditors. The CoC approved the resolution application of Resolution Applicant No. 1. The fair value of the
…Company Petit…
CIRP proceedings initiated against the…