The case pertains to IA-5267/2021 filed in CP (IB)-2380/ND/2019, concerning the corporate insolvency resolution process (CIRP) of Ad Victoriam Ventures Pvt. Ltd. The petition was initially admitted on 2019-11-21, and Mr. Anil Tayal was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Rakesh Kumar Singala replaced the IRP on 2021-09-30. The applicant sought to initiate the liquidation process of the corporate debtor after the CIRP period ended and no resolution plan was approved.
The key facts are as follows: An application, IA-5267/2021, was filed in CP (IB)-2380/ND/2019. The Corporate Insolvency Resolution Process (CIRP) was initiated for Ad Victoriam Ventures Pvt. Ltd. on 2019-11-21. Anil Tayal was initially appointed as the Interim Resolution Professional (IRP). Rakesh Kumar Singala replaced Anil Tayal as IRP on 2021-09-30. The IRP conducted 5 CoC meetings. The applicant invited expressions of interest (EoI) and published Form G. Two resolution plans were received but one was withdrawn and the other rejected. The CIRP period of 330 days, excluding 340 days due to COVID-19, ended on 2021-09-20. No resolution plan was approved within the maximum insolvency resolution process period. The applicant sought directions to initiate the liquidation
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The Corporate Insolvency Resolution Process…
Mr. Anil Tayal was…
The case pertains to IA-5267/2021 filed in CP (IB)-2380/ND/2019, concerning the corporate insolvency resolution process (CIRP) of Ad Victoriam Ventures Pvt. Ltd. The petition was initially admitted on 2019-11-21, and Mr. Anil Tayal was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Rakesh Kumar Singala replaced the IRP on 2021-09-30. The applicant sought to initiate the liquidation process of the corporate debtor after the CIRP period ended and no resolution plan was approved.
The key facts are as follows: An application, IA-5267/2021, was filed in CP (IB)-2380/ND/2019. The Corporate Insolvency Resolution Process (CIRP) was initiated for Ad Victoriam Ventures Pvt. Ltd. on 2019-11-21. Anil Tayal was initially appointed as the Interim Resolution Professional (IRP). Rakesh Kumar Singala replaced Anil Tayal as IRP on 2021-09-30. The IRP conducted 5 CoC meetings. The applicant invited expressions of interest (EoI) and published Form G. Two resolution plans were received but one was withdrawn and the other rejected. The CIRP period of 330 days, excluding 340 days due to COVID-19, ended on 2021-09-20. No resolution plan was approved within the maximum insolvency resolution process period. The applicant sought directions to initiate the liquidation
…The Corporate Insolvency Resolution Process…
Mr. Anil Tayal was…