The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) for the initiation of liquidation of the Corporate Debtor, Aadhar Shri Infratech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC by an Operational Creditor. An Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP), Mr. Manohar Lal Vij. Despite efforts to find a resolution plan, no viable proposals were received, leading the Committee of Creditors (CoC) to decide on liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Aadhar Shri Infratech Private Limited following an application filed by an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Prabhat Ranjan Singh was initially appointed as the Interim Resolution Professional (IRP) but was later replaced by Mr. Manohar Lal Vij as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed, consisting of two financial creditors holding 100% voting rights. Despite efforts by the RP, including issuing Form G twice to invite Expression of Interest, no resolution plan was received. The CoC concluded that the Corporate Debtor had no significant operational assets and that liquidation was the most viable option.
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Corporate Insolvency…
Committee of C…
The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) for the initiation of liquidation of the Corporate Debtor, Aadhar Shri Infratech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC by an Operational Creditor. An Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP), Mr. Manohar Lal Vij. Despite efforts to find a resolution plan, no viable proposals were received, leading the Committee of Creditors (CoC) to decide on liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Aadhar Shri Infratech Private Limited following an application filed by an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Prabhat Ranjan Singh was initially appointed as the Interim Resolution Professional (IRP) but was later replaced by Mr. Manohar Lal Vij as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed, consisting of two financial creditors holding 100% voting rights. Despite efforts by the RP, including issuing Form G twice to invite Expression of Interest, no resolution plan was received. The CoC concluded that the Corporate Debtor had no significant operational assets and that liquidation was the most viable option.
…Corporate Insolvency…
Committee of C…