The case pertains to an application filed under Section 33(1)(a), 33(2) & 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Indian Mining Works Private Limited.
CIRP was initiated against Indian Mining Works Private Limited on 24.02.2020.
Sandip Kumar Kejriwal was appointed as the Interim Resolution Professional (IRP).
The CoC approved a resolution plan with 100% voting on 04.7.2022.
The Tribunal rejected the resolution plan on 01.7.2024.
Axis Bank, holding 75.3% share, decided to initiate the liquidation process on 11.12.2024.
SREI holding 24.7% share did not respond to the liquidation proposal.
The CoC decided to liquidate the Corporate Debtor immediately and passed the necessary resolutions.
The Tribunal ordered the liquidation of the Corporate Debtor as per Section 33(2) of IBC, 2016.
Sandeep Kumar Kejriwal was appointed as the Liquidator of the Corporate Debtor.
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Corporate Insolvency…
Public announcement about initiation of the…
The case pertains to an application filed under Section 33(1)(a), 33(2) & 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Indian Mining Works Private Limited.
CIRP was initiated against Indian Mining Works Private Limited on 24.02.2020.
Sandip Kumar Kejriwal was appointed as the Interim Resolution Professional (IRP).
The CoC approved a resolution plan with 100% voting on 04.7.2022.
The Tribunal rejected the resolution plan on 01.7.2024.
Axis Bank, holding 75.3% share, decided to initiate the liquidation process on 11.12.2024.
SREI holding 24.7% share did not respond to the liquidation proposal.
The CoC decided to liquidate the Corporate Debtor immediately and passed the necessary resolutions.
The Tribunal ordered the liquidation of the Corporate Debtor as per Section 33(2) of IBC, 2016.
Sandeep Kumar Kejriwal was appointed as the Liquidator of the Corporate Debtor.
Corporate Insolvency…
Public announcement about initiation of the…