The case involves an application by Manohar Karamchandani, an operational creditor, against Balajidham Buildestates Pvt. Ltd., the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Tribunal admitted the insolvency petition on 02.11.2018 and appointed Ms. Sarita Duck as the Interim Resolution Professional (IRP). Several Interim Applications (IAs) were filed during the CIRP, addressing various issues such as claims from homebuyers, directions to handover possession of properties, and extension of the CIRP period. The Committee of Creditors (CoC) convened multiple meetings to discuss the resolution process. Ultimately, no resolution plan was approved, leading to the decision
…Manohar Karamchandani, an operational creditor, filed an application against Balajidham Buildestates Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for non-payment of dues. The Tribunal admitted the application on 02.11.2018 and appointed Ms. Sarita Duck as the Interim Resolution Professional (IRP). Public announcements were made, and claims were invited from creditors, including financial creditors, operational creditors, workmen, employees, and homebuyers. The Committee of Creditors (CoC) was formed and convened multiple meetings. The IRP filed several applications seeking directions on various issues, including the possession of properties, the verification of claims, and the extension of the CIRP period. The corporate
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The Tribunal admitted…
Ms. Sarita Duck was…
The case involves an application by Manohar Karamchandani, an operational creditor, against Balajidham Buildestates Pvt. Ltd., the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Tribunal admitted the insolvency petition on 02.11.2018 and appointed Ms. Sarita Duck as the Interim Resolution Professional (IRP). Several Interim Applications (IAs) were filed during the CIRP, addressing various issues such as claims from homebuyers, directions to handover possession of properties, and extension of the CIRP period. The Committee of Creditors (CoC) convened multiple meetings to discuss the resolution process. Ultimately, no resolution plan was approved, leading to the decision
…Manohar Karamchandani, an operational creditor, filed an application against Balajidham Buildestates Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for non-payment of dues. The Tribunal admitted the application on 02.11.2018 and appointed Ms. Sarita Duck as the Interim Resolution Professional (IRP). Public announcements were made, and claims were invited from creditors, including financial creditors, operational creditors, workmen, employees, and homebuyers. The Committee of Creditors (CoC) was formed and convened multiple meetings. The IRP filed several applications seeking directions on various issues, including the possession of properties, the verification of claims, and the extension of the CIRP period. The corporate
…The Tribunal admitted…
Ms. Sarita Duck was…