The case involves an application filed by Ms. Ritu Rastogi, the Resolution Professional (RP) for Tanishka Automotives Private Limited, the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, to initiate the liquidation process. The Corporate Insolvency Resolution Process (CIRP) was initiated by State Bank of India under Section 7 of the Code. The RP was appointed as the Interim Resolution Professional (IRP) and a moratorium was imposed. Several Committee of Creditors (CoC) meetings were held to discuss the resolution process. Despite efforts, no resolution plan was received, leading to the CoC's decision to liquidate the Corporate Debtor.
State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Tanishka Automotives Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Ms. Ritu Rastogi was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). A moratorium was imposed under Section 14 of the Code. The Committee of Creditors (CoC), consisting solely of State Bank of India, was formed. Several CoC meetings were held to explore resolution options. Form G was issued to invite resolution plans, but no plan was received. The CoC then resolved to liquidate the Corporate Debtor with 100% voting share. The RP applied for the initiation of the liquidation process under Section 33(2) of the Code. The Adjudicating
…Sign in to view the parties.
Application filed under Section 7 of the…
Order imposing…
The case involves an application filed by Ms. Ritu Rastogi, the Resolution Professional (RP) for Tanishka Automotives Private Limited, the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, to initiate the liquidation process. The Corporate Insolvency Resolution Process (CIRP) was initiated by State Bank of India under Section 7 of the Code. The RP was appointed as the Interim Resolution Professional (IRP) and a moratorium was imposed. Several Committee of Creditors (CoC) meetings were held to discuss the resolution process. Despite efforts, no resolution plan was received, leading to the CoC's decision to liquidate the Corporate Debtor.
State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Tanishka Automotives Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Ms. Ritu Rastogi was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). A moratorium was imposed under Section 14 of the Code. The Committee of Creditors (CoC), consisting solely of State Bank of India, was formed. Several CoC meetings were held to explore resolution options. Form G was issued to invite resolution plans, but no plan was received. The CoC then resolved to liquidate the Corporate Debtor with 100% voting share. The RP applied for the initiation of the liquidation process under Section 33(2) of the Code. The Adjudicating
…Application filed under Section 7 of the…
Order imposing…