The case involves an application (I.A.No.600 of 2019) filed in C.P.(IB)No.122/BB/2017 under Section 33 of the IBC, 2016, seeking an order to liquidate the Corporate Debtor, M/s. Bhuvana Infra Projects Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a company petition filed by M/s. New Age Real Properties LLP under Section 7 of the IBC, 2016. An Interim Resolution Professional (IRP) was initially appointed, later replaced by Smt. Ramanathan Bhuvaneshwari. During the CIRP, the Corporate Debtor and its group companies attempted to settle with creditors, but the Committee of Creditors (CoC) rejected proposals for post-dated cheques, demanding full settlement of dues. The CoC ultimately approved a resolution for
…M/s. New Age Real Properties LLP filed a company petition under Section 7 of the IBC, 2016, against M/s. Bhuvana Infra Projects Pvt. Ltd. The Adjudicating Authority admitted the petition on January 17, 2018, initiating CIRP and appointing Shri Pavan Kankani as the Interim Resolution Professional (IRP). Subsequently, the Adjudicating Authority allowed the replacement of the IRP with Smt. Ramanathan Bhuvaneshwari on March 15, 2018. The Director of the Corporate Debtor and its group companies filed Company Appeal (AT) (INS) No.574 of 2019, and the NCLAT directed the handover of assets and business records. The Corporate Debtor attempted to settle with creditors, submitting Form FA under Section 7. The Resolution Professional conducted a CoC meeting on August 30, 2019, but
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The Adjudicating Authority admitted the…
Smt. Ramanathan Bhuvaneshwari was appointed as…
The case involves an application (I.A.No.600 of 2019) filed in C.P.(IB)No.122/BB/2017 under Section 33 of the IBC, 2016, seeking an order to liquidate the Corporate Debtor, M/s. Bhuvana Infra Projects Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a company petition filed by M/s. New Age Real Properties LLP under Section 7 of the IBC, 2016. An Interim Resolution Professional (IRP) was initially appointed, later replaced by Smt. Ramanathan Bhuvaneshwari. During the CIRP, the Corporate Debtor and its group companies attempted to settle with creditors, but the Committee of Creditors (CoC) rejected proposals for post-dated cheques, demanding full settlement of dues. The CoC ultimately approved a resolution for
…M/s. New Age Real Properties LLP filed a company petition under Section 7 of the IBC, 2016, against M/s. Bhuvana Infra Projects Pvt. Ltd. The Adjudicating Authority admitted the petition on January 17, 2018, initiating CIRP and appointing Shri Pavan Kankani as the Interim Resolution Professional (IRP). Subsequently, the Adjudicating Authority allowed the replacement of the IRP with Smt. Ramanathan Bhuvaneshwari on March 15, 2018. The Director of the Corporate Debtor and its group companies filed Company Appeal (AT) (INS) No.574 of 2019, and the NCLAT directed the handover of assets and business records. The Corporate Debtor attempted to settle with creditors, submitting Form FA under Section 7. The Resolution Professional conducted a CoC meeting on August 30, 2019, but
…The Adjudicating Authority admitted the…
Smt. Ramanathan Bhuvaneshwari was appointed as…