Janaseva Sahakari Bank Limited, a secured financial creditor, filed an application under Section 33(3) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of Utech Engineering Works (India) Private Limited due to contravention of the approved resolution plan.
The Corporate Debtor, Utech Engineering Works (India) Private Limited, was incorporated on 16.12.1991 and is engaged in the business of manufacturing basic metals like ferro alloys.
A Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 25.06.2019, following an application filed by Premium Transmission Private Limited under Section 9 of the Code.
Neelima Anil Bhate was appointed as the Interim Resolution Professional and later as the Resolution Professional (RP) of the Corporate Debtor.
A resolution plan submitted by Ravindra P Birole (SRA) was initially rejected by the Committee of Creditors (CoC) but was later approved by the Tribunal on 11.02.2022.
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CP (IB) 2476/MB/2018 was filed under Section…
Corporate Insolvency Resolution Process (CIRP)…
Janaseva Sahakari Bank Limited, a secured financial creditor, filed an application under Section 33(3) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of Utech Engineering Works (India) Private Limited due to contravention of the approved resolution plan.
The Corporate Debtor, Utech Engineering Works (India) Private Limited, was incorporated on 16.12.1991 and is engaged in the business of manufacturing basic metals like ferro alloys.
A Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 25.06.2019, following an application filed by Premium Transmission Private Limited under Section 9 of the Code.
Neelima Anil Bhate was appointed as the Interim Resolution Professional and later as the Resolution Professional (RP) of the Corporate Debtor.
A resolution plan submitted by Ravindra P Birole (SRA) was initially rejected by the Committee of Creditors (CoC) but was later approved by the Tribunal on 11.02.2022.
…CP (IB) 2476/MB/2018 was filed under Section…
Corporate Insolvency Resolution Process (CIRP)…