The application was filed under Section 33(2) read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s Garvit Innovative Promoters Ltd.
The CIRP was initiated against the Corporate Debtor on 16th February, 2023.
The CoC recommended liquidation of the Corporate Debtor in its 7th meeting held on 27.08.2025.
The ex-management did not cooperate with the IRP/RP.
The Corporate Debtor is facing prosecution from various agencies due to a scam and fraud of more than Rs. 3,000 Crore.
The maximum permissible CIRP period of 330 days expired on 29.08.2025.
The object and business model of Corporate Debtor is that of Ponzi Scheme in which more than 2 lakh investors have been cheated and defrauded.
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CIRP was ini…
The 7th CoC meeting was…
The application was filed under Section 33(2) read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s Garvit Innovative Promoters Ltd.
The CIRP was initiated against the Corporate Debtor on 16th February, 2023.
The CoC recommended liquidation of the Corporate Debtor in its 7th meeting held on 27.08.2025.
The ex-management did not cooperate with the IRP/RP.
The Corporate Debtor is facing prosecution from various agencies due to a scam and fraud of more than Rs. 3,000 Crore.
The maximum permissible CIRP period of 330 days expired on 29.08.2025.
The object and business model of Corporate Debtor is that of Ponzi Scheme in which more than 2 lakh investors have been cheated and defrauded.
CIRP was ini…
The 7th CoC meeting was…