The application IA/401(CHE)/2023 was filed for passing an order of liquidation in relation to Uniply Industries Limited, the Corporate Debtor (CD), by the Resolution Professional (RP). The Committee of Creditors (COC) decided to liquidate the CD in its 9th COC meeting held on 03.02.2023 because no viable resolution plan was approved. CIRP was ordered in IBA/751/2020 on 04.10.2021, following an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by M/s. Kishan Chand Suresh Kumar. The applicant was appointed as IRP and later as RP during the 1st COC meeting on 22.11.2021. Form G was published on 14.01.2022 and 21.06.2022. The CIRP period was extended by 90 days via order dated 18.04.2022, with exclusions granted, resulting in a total CIRP period
…Uniply Industries Limited faced Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), initiated via application IBA/751/2020 following a Section 9 application by M/s. Kishan Chand Suresh Kumar, leading to the appointment of an Interim Resolution Professional (IRP) and later a Resolution Professional (RP). The Committee of Creditors (COC), consisting of a sole financial creditor SBICAP Trustee Company Ltd., convened nine meetings but failed to approve any resolution plan, including those submitted by suspended directors. Form G was published twice to invite resolution plans. The CIRP period was extended by 90 days, resulting in a total of 330 days, ending on 01.01.2023. Ultimately, in its 9th meeting on 03.02.2023, the COC
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CIRP was orde…
L. V. Shyam Sundar was…
The application IA/401(CHE)/2023 was filed for passing an order of liquidation in relation to Uniply Industries Limited, the Corporate Debtor (CD), by the Resolution Professional (RP). The Committee of Creditors (COC) decided to liquidate the CD in its 9th COC meeting held on 03.02.2023 because no viable resolution plan was approved. CIRP was ordered in IBA/751/2020 on 04.10.2021, following an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by M/s. Kishan Chand Suresh Kumar. The applicant was appointed as IRP and later as RP during the 1st COC meeting on 22.11.2021. Form G was published on 14.01.2022 and 21.06.2022. The CIRP period was extended by 90 days via order dated 18.04.2022, with exclusions granted, resulting in a total CIRP period
…Uniply Industries Limited faced Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), initiated via application IBA/751/2020 following a Section 9 application by M/s. Kishan Chand Suresh Kumar, leading to the appointment of an Interim Resolution Professional (IRP) and later a Resolution Professional (RP). The Committee of Creditors (COC), consisting of a sole financial creditor SBICAP Trustee Company Ltd., convened nine meetings but failed to approve any resolution plan, including those submitted by suspended directors. Form G was published twice to invite resolution plans. The CIRP period was extended by 90 days, resulting in a total of 330 days, ending on 01.01.2023. Ultimately, in its 9th meeting on 03.02.2023, the COC
…CIRP was orde…
L. V. Shyam Sundar was…