The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, concerning a deadlock created by a low percentage of votes cast by a new category of financial creditors, specifically those in the Real Estate (Commercial and Residential) sector. The Corporate Insolvency Resolution Process (CIRP) was initiated against AMR Infrastructure Ltd. based on an application by Nikhil Mehta & Sons (HUF) & Ors. The Interim Resolution Professional (IRP) took steps to discharge his duties, including inviting and verifying claims, collating information on assets, and taking custody of assets. However, the voting share for various resolutions, including the appointment of the IRP as Resolution Professional (RP), did not meet the required
…Nikhil Mehta & Sons (HUF) & Ors. initiated Corporate Insolvency Resolution Process (CIRP) against M/s. AMR Infrastructure Ltd. The application was admitted on 2018-05-10. Mr. Vikram Bajaj was appointed as Interim Resolution Professional (IRP). A public announcement was made on 2018-05-15. The last date for submission of proof of claim was 2018-05-24. The IRP filed an application being CA-725(PB)/2018 to appoint two authorized representatives, which was allowed on 2018-08-14. The first meeting of the Committee of Creditors (CoC) was scheduled for 2018-08-25. The e-voting window was open from 2018-08-23 to 2018-08-25. There were 906 financial creditors. Only 463 financial creditors representing 52.78% voting shares participated in the voting. The voting shares
…Sign in to view the parties.
Corporate Insolvency Resolution Process…
Public announce…
The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, concerning a deadlock created by a low percentage of votes cast by a new category of financial creditors, specifically those in the Real Estate (Commercial and Residential) sector. The Corporate Insolvency Resolution Process (CIRP) was initiated against AMR Infrastructure Ltd. based on an application by Nikhil Mehta & Sons (HUF) & Ors. The Interim Resolution Professional (IRP) took steps to discharge his duties, including inviting and verifying claims, collating information on assets, and taking custody of assets. However, the voting share for various resolutions, including the appointment of the IRP as Resolution Professional (RP), did not meet the required
…Nikhil Mehta & Sons (HUF) & Ors. initiated Corporate Insolvency Resolution Process (CIRP) against M/s. AMR Infrastructure Ltd. The application was admitted on 2018-05-10. Mr. Vikram Bajaj was appointed as Interim Resolution Professional (IRP). A public announcement was made on 2018-05-15. The last date for submission of proof of claim was 2018-05-24. The IRP filed an application being CA-725(PB)/2018 to appoint two authorized representatives, which was allowed on 2018-08-14. The first meeting of the Committee of Creditors (CoC) was scheduled for 2018-08-25. The e-voting window was open from 2018-08-23 to 2018-08-25. There were 906 financial creditors. Only 463 financial creditors representing 52.78% voting shares participated in the voting. The voting shares
…Corporate Insolvency Resolution Process…
Public announce…