The case originated from an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by State Bank of India against Vrundavan Ceramics Private Limited in 2018, with the Corporate Insolvency Resolution Process (CIRP) commencing in 2020. Mr. Arvind Gaudana was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP). Claims were invited, and a Committee of Creditors (CoC) was constituted. Multiple extensions and exclusions were granted for the CIRP period due to various reasons, including the pandemic and ongoing litigation. Several resolution plans were received and considered, with one plan from Lorenzo Vitrified Tiles being approved by the CoC.
State Bank of India, a Financial Creditor, filed an application u/s 7 of the IB Code, being CP (IB) No.561 of 2018, against Vrundavan Ceramics Private Limited.
The petition was admitted, and the Corporate Insolvency Resolution Process (CIRP) commenced on 21.01.2020.
Mr. Arvind Gaudana was appointed as the Interim Resolution Professional (IRP) on 21.01.2020.
A public announcement of the initiation of CIRP was made on 30.01.2020, inviting claims from creditors by 12.02.2020.
Claims were received from State Bank of India (Form-C), SMV Cera Private Limited (Form-B), and Intec Capital Limited (Form-C).
The CoC was constituted with State Bank of India as the sole Financial Creditor.
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Commencement of CIRP for Vrundavan Ceramics…
Public announcement of the initiation of…
The case originated from an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by State Bank of India against Vrundavan Ceramics Private Limited in 2018, with the Corporate Insolvency Resolution Process (CIRP) commencing in 2020. Mr. Arvind Gaudana was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP). Claims were invited, and a Committee of Creditors (CoC) was constituted. Multiple extensions and exclusions were granted for the CIRP period due to various reasons, including the pandemic and ongoing litigation. Several resolution plans were received and considered, with one plan from Lorenzo Vitrified Tiles being approved by the CoC.
State Bank of India, a Financial Creditor, filed an application u/s 7 of the IB Code, being CP (IB) No.561 of 2018, against Vrundavan Ceramics Private Limited.
The petition was admitted, and the Corporate Insolvency Resolution Process (CIRP) commenced on 21.01.2020.
Mr. Arvind Gaudana was appointed as the Interim Resolution Professional (IRP) on 21.01.2020.
A public announcement of the initiation of CIRP was made on 30.01.2020, inviting claims from creditors by 12.02.2020.
Claims were received from State Bank of India (Form-C), SMV Cera Private Limited (Form-B), and Intec Capital Limited (Form-C).
The CoC was constituted with State Bank of India as the sole Financial Creditor.
…Commencement of CIRP for Vrundavan Ceramics…
Public announcement of the initiation of…