The Resolution Professional (RP) filed an application under Section 33(2) of the Insolvency & Bankruptcy Code, 2016, seeking an order for the liquidation of Bhagat Ram Motorways Pvt. Ltd. The petition by the corporate debtor was admitted on 2018-12-10, and a moratorium was declared. Arvind Kumar was appointed as Interim Resolution Professional and later as RP. The CoC rejected the resolution plan submitted by Ms. Indu Walia with 93.86% votes. The CoC, in its 10th meeting, passed a resolution with 93.86% votes authorizing the RP to file an application with the Adjudicating Authority (AA) for the liquidation of the corporate debtor.
Bhagat Ram Motorways Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) after a petition filed under Section 10 of the Insolvency and Bankruptcy Code (IBC) was admitted on 2018-12-10. Arvind Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). During the CIRP, a resolution plan submitted by Ms. Indu Walia was considered by the Committee of Creditors (CoC) but was ultimately rejected due to dissatisfaction with the sources of funds and the proposed timeline. The CoC, in its 10th meeting held on 2019-08-13, voted with 93.86% majority to liquidate the corporate debtor. The RP then filed an application under Section 33(2) of the IBC seeking liquidation. The Adjudicating Authority (AA)
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Petition filed by the corporate debtor under…
Arvind Kumar was…
The Resolution Professional (RP) filed an application under Section 33(2) of the Insolvency & Bankruptcy Code, 2016, seeking an order for the liquidation of Bhagat Ram Motorways Pvt. Ltd. The petition by the corporate debtor was admitted on 2018-12-10, and a moratorium was declared. Arvind Kumar was appointed as Interim Resolution Professional and later as RP. The CoC rejected the resolution plan submitted by Ms. Indu Walia with 93.86% votes. The CoC, in its 10th meeting, passed a resolution with 93.86% votes authorizing the RP to file an application with the Adjudicating Authority (AA) for the liquidation of the corporate debtor.
Bhagat Ram Motorways Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) after a petition filed under Section 10 of the Insolvency and Bankruptcy Code (IBC) was admitted on 2018-12-10. Arvind Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). During the CIRP, a resolution plan submitted by Ms. Indu Walia was considered by the Committee of Creditors (CoC) but was ultimately rejected due to dissatisfaction with the sources of funds and the proposed timeline. The CoC, in its 10th meeting held on 2019-08-13, voted with 93.86% majority to liquidate the corporate debtor. The RP then filed an application under Section 33(2) of the IBC seeking liquidation. The Adjudicating Authority (AA)
…Petition filed by the corporate debtor under…
Arvind Kumar was…