The case pertains to an application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, BHA Associates Private Limited. Initially, Dena Bank, a Financial Creditor, had filed an application under Section 7 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This application was admitted on 30.04.2019, and Mr. Pawan Kumar Agarwal was appointed as the Interim Resolution Professional (IRP).
Dena Bank, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against BHA Associates Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 2019-04-30, leading to the commencement of CIRP. Mr. Pawan Kumar Agarwal was appointed as the Interim Resolution Professional (IRP). A Committee of Creditors (CoC) was constituted. The CoC resolved to invite expressions of interest for resolution plans, but no plan was submitted. In the fourth CoC meeting held on 2019-10-26, Indiabulls Housing Finance Limited, the sole member of the CoC, voted to liquidate BHA Associates Private Limited. The Resolution Professional then filed an application under Section 33 of the IBC seeking
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Application under Section 7 of IBC filed by…
Interim Resolution…
The case pertains to an application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, BHA Associates Private Limited. Initially, Dena Bank, a Financial Creditor, had filed an application under Section 7 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This application was admitted on 30.04.2019, and Mr. Pawan Kumar Agarwal was appointed as the Interim Resolution Professional (IRP).
Dena Bank, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against BHA Associates Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 2019-04-30, leading to the commencement of CIRP. Mr. Pawan Kumar Agarwal was appointed as the Interim Resolution Professional (IRP). A Committee of Creditors (CoC) was constituted. The CoC resolved to invite expressions of interest for resolution plans, but no plan was submitted. In the fourth CoC meeting held on 2019-10-26, Indiabulls Housing Finance Limited, the sole member of the CoC, voted to liquidate BHA Associates Private Limited. The Resolution Professional then filed an application under Section 33 of the IBC seeking
…Application under Section 7 of IBC filed by…
Interim Resolution…