The case involves an application filed by the Resolution Professional (RP) seeking a liquidation order under Section 33 of the Insolvency and Bankruptcy Code (IBC). The application was based on a resolution passed by the Committee of Creditors (COC) on 17.12.2019 with a 100% voting share. The Corporate Insolvency Resolution Process (CIRP) had commenced on 02.04.2019, with Mr. Vikas Gupta appointed as the Interim Resolution Professional (IRP). The IRP issued a public notice inviting claims from creditors. The IRP collated the claims and determined the admitted claims against the company as Rs. 186.63 Crores. The RP was confirmed on 30.04.2019. The RP issued an invitation for Expression of Interest, which was extended multiple times due to lack of response. Eventually,
…The Corporate Insolvency Resolution Process (CIRP) commenced on 02.04.2019 following an admission order on the same date. Mr. Vikas Gupta was appointed as the Interim Resolution Professional (IRP). A public notice was issued on 06.04.2019 to invite claims from creditors. The IRP collated claims, determining admitted claims against the company to be Rs. 186.63 Crores. The IRP was confirmed as the Resolution Professional (RP) on 30.04.2019. An invitation for Expression of Interest was issued on 15.06.2019, and extended multiple times (05.07.2019, 16.07.2019, 10.08.2019) due to lack of response. One Resolution Applicant filed a plan on 05.11.2019, but it was rejected for failing to provide the required bid guarantee. The CIRP period was extended by 90 days on 24.10.2019
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CIRP commenced…
Mr. Vikas Gupta…
The case involves an application filed by the Resolution Professional (RP) seeking a liquidation order under Section 33 of the Insolvency and Bankruptcy Code (IBC). The application was based on a resolution passed by the Committee of Creditors (COC) on 17.12.2019 with a 100% voting share. The Corporate Insolvency Resolution Process (CIRP) had commenced on 02.04.2019, with Mr. Vikas Gupta appointed as the Interim Resolution Professional (IRP). The IRP issued a public notice inviting claims from creditors. The IRP collated the claims and determined the admitted claims against the company as Rs. 186.63 Crores. The RP was confirmed on 30.04.2019. The RP issued an invitation for Expression of Interest, which was extended multiple times due to lack of response. Eventually,
…The Corporate Insolvency Resolution Process (CIRP) commenced on 02.04.2019 following an admission order on the same date. Mr. Vikas Gupta was appointed as the Interim Resolution Professional (IRP). A public notice was issued on 06.04.2019 to invite claims from creditors. The IRP collated claims, determining admitted claims against the company to be Rs. 186.63 Crores. The IRP was confirmed as the Resolution Professional (RP) on 30.04.2019. An invitation for Expression of Interest was issued on 15.06.2019, and extended multiple times (05.07.2019, 16.07.2019, 10.08.2019) due to lack of response. One Resolution Applicant filed a plan on 05.11.2019, but it was rejected for failing to provide the required bid guarantee. The CIRP period was extended by 90 days on 24.10.2019
…CIRP commenced…
Mr. Vikas Gupta…