An application was filed under Section 7 of IBC, 2016 by a Financial Creditor, M/s. Alchemist Asset Reconstruction Company Limited, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. SIP Industries Limited. Mr. Porselvam Govindasamy was appointed as Interim Resolution Professional (IRP).
An application was filed under Section 7 of IBC, 2016 by Alchemist Asset Reconstruction Company Limited.
Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. SIP Industries Limited.
Mr. Porselvam Govindasamy was appointed as Interim Resolution Professional (IRP).
The IRP received only one claim from an Operational Creditor, NSDL.
The sole CoC member opined to liquidate the Corporate Debtor.
An application for extension of CIRP was filed and ordered.
The applicant herein was appointed as the Resolution Professional.
The applicant obtained an order of exclusion of 60 days from the CIRP period due to the Covid-19 lockdown.
The Resolution Plan submitted by Mr. Arularasan was approved with 100% majority of the CoC.
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Corporate Insolvency Resolution Process…
IRP caused public…
An application was filed under Section 7 of IBC, 2016 by a Financial Creditor, M/s. Alchemist Asset Reconstruction Company Limited, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. SIP Industries Limited. Mr. Porselvam Govindasamy was appointed as Interim Resolution Professional (IRP).
An application was filed under Section 7 of IBC, 2016 by Alchemist Asset Reconstruction Company Limited.
Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. SIP Industries Limited.
Mr. Porselvam Govindasamy was appointed as Interim Resolution Professional (IRP).
The IRP received only one claim from an Operational Creditor, NSDL.
The sole CoC member opined to liquidate the Corporate Debtor.
An application for extension of CIRP was filed and ordered.
The applicant herein was appointed as the Resolution Professional.
The applicant obtained an order of exclusion of 60 days from the CIRP period due to the Covid-19 lockdown.
The Resolution Plan submitted by Mr. Arularasan was approved with 100% majority of the CoC.
…Corporate Insolvency Resolution Process…
IRP caused public…