IDBI Bank Limited, Financial creditor, has filed the application under Section 7 of Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process (CIRP) against ACIL.
Hon’ble NCLT, New Delhi Bench, admitted the petition for commencement of Corporate Insolvency Resolution Process vide order no IB-170(PB)/2018 dated 08.08.2018. Further, vide said order, Mr. Ravindra Loonkar has been appointed as Interim Resolution Professional of ACIL and further appointed as Resolution Professional in the meeting of committee of creditors.
Mr. Ravindra Loonkar, acting in his capacity as the Resolution Professional (“RP”) for the Corporate Debtor, hereby under Sections 25(2)(h) of IBC invites Expression of Interest (EOI) from prospective Resolution Applicants for the purpose of submission of Resolution Plan in respect of the Corporate Debtor within the time lines prescribed under Regulation 36B of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016(CIRP Regulations, 2016) and indicated in Form G.