These are three appeals arising out of the Corporate Insolvency Resolution Process (CIRP) of 'Sidhartha Buildhome Pvt. Ltd.'. Company Appeal (AT) (Insolvency) No. 791 of 2023 was filed by Mr. Devendra Singh, the Resolution Professional, challenging the order dated 24.05.2023, which allowed IA No.753 of 2023 filed by the Homebuyers of Sidhartha Buildhome Pvt. Ltd., accepting a proposal under Section 12A of the Insolvency and Bankruptcy Code (IBC) permitting withdrawal of the CIRP. Company Appeal (AT) (Insolvency) No. 982 of 2023 was filed by a Homebuyer challenging the same order. Company Appeal (AT) (Insolvency) No. 1194 of 2023 was filed by a homebuyer challenging the order dated 13.07.2023, which dismissed IA No.779 of 2023 filed by Vijay Saini and other homebuyers
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Sidhartha Buildhome Pvt. Ltd. based on an application under Section 7 of the IBC by Oriental Bank of Commerce (now merged with Punjab National Bank). The Resolution Professional issued Form-G twice, receiving two Resolution Plans and a proposal under Section 12A for withdrawal submitted by Mr. Sidharth Chauhan, the Promoter/Director. In the 18th CoC meeting on 15.02.2022, both Resolution Plans and the withdrawal proposal were rejected. In the 27th CoC meeting on 10.01.2023, the Resolution Plan of Alpha Corp Development Pvt. Ltd. and the withdrawal proposal of Mr. Sidharth Chauhan were discussed and voted upon. The e-voting, conducted from 14.01.2023 to 18.01.2023, resulted in the rejection of the
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CIRP against Sidhartha Buildhome Pvt. Ltd.…
Both Resolution Plans and Section 12A…
These are three appeals arising out of the Corporate Insolvency Resolution Process (CIRP) of 'Sidhartha Buildhome Pvt. Ltd.'. Company Appeal (AT) (Insolvency) No. 791 of 2023 was filed by Mr. Devendra Singh, the Resolution Professional, challenging the order dated 24.05.2023, which allowed IA No.753 of 2023 filed by the Homebuyers of Sidhartha Buildhome Pvt. Ltd., accepting a proposal under Section 12A of the Insolvency and Bankruptcy Code (IBC) permitting withdrawal of the CIRP. Company Appeal (AT) (Insolvency) No. 982 of 2023 was filed by a Homebuyer challenging the same order. Company Appeal (AT) (Insolvency) No. 1194 of 2023 was filed by a homebuyer challenging the order dated 13.07.2023, which dismissed IA No.779 of 2023 filed by Vijay Saini and other homebuyers
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Sidhartha Buildhome Pvt. Ltd. based on an application under Section 7 of the IBC by Oriental Bank of Commerce (now merged with Punjab National Bank). The Resolution Professional issued Form-G twice, receiving two Resolution Plans and a proposal under Section 12A for withdrawal submitted by Mr. Sidharth Chauhan, the Promoter/Director. In the 18th CoC meeting on 15.02.2022, both Resolution Plans and the withdrawal proposal were rejected. In the 27th CoC meeting on 10.01.2023, the Resolution Plan of Alpha Corp Development Pvt. Ltd. and the withdrawal proposal of Mr. Sidharth Chauhan were discussed and voted upon. The e-voting, conducted from 14.01.2023 to 18.01.2023, resulted in the rejection of the
…CIRP against Sidhartha Buildhome Pvt. Ltd.…
Both Resolution Plans and Section 12A…