The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s Bava Infrastructure Developers Pvt Ltd. Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) was appointed and a public announcement was made to invite claims from stakeholders.
Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Bava Infrastructure Developers Pvt Ltd vide order dated 20.06.2024.
Shri Madhugiri Venkatarayappa Sudarshan was appointed as the Interim Resolution Professional.
Public announcement was made on 23.06.2024 inviting claims from stakeholders.
Claims were received from Canara Bank (Rs. 53,74,27,294) and Mangalore Catholic Co-operative Bank Limited (Rs. 28,88,631).
The Committee of Creditors (CoC) was formed with Canara Bank and Mangalore Catholic Co-operative Bank Limited as members.
The Resolution Professional found that the Corporate Debtor had minimal assets and no operative bank accounts.
The CoC approved the dissolution of the Corporate Debtor with a 99.47% voting share on 13.09.2024.
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Corporate Insolvency Resolution Process…
Public announcement was…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s Bava Infrastructure Developers Pvt Ltd. Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional (RP) was appointed and a public announcement was made to invite claims from stakeholders.
Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Bava Infrastructure Developers Pvt Ltd vide order dated 20.06.2024.
Shri Madhugiri Venkatarayappa Sudarshan was appointed as the Interim Resolution Professional.
Public announcement was made on 23.06.2024 inviting claims from stakeholders.
Claims were received from Canara Bank (Rs. 53,74,27,294) and Mangalore Catholic Co-operative Bank Limited (Rs. 28,88,631).
The Committee of Creditors (CoC) was formed with Canara Bank and Mangalore Catholic Co-operative Bank Limited as members.
The Resolution Professional found that the Corporate Debtor had minimal assets and no operative bank accounts.
The CoC approved the dissolution of the Corporate Debtor with a 99.47% voting share on 13.09.2024.
…Corporate Insolvency Resolution Process…
Public announcement was…