Wahaca Trading Private Limited filed I.A.No.106/2020 in C.P.(IB)No.228/BB/2018 under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the discharge/replacement of Mr. Shivadutt Bannanje as the Resolution Professional (RP) of the Corporate Debtor, Bhuwalka Steel Industries Limited, and the appointment of another RP. The applicant also sought to inform the IBBI of the RP's alleged misconduct and requested an interim stay on the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The CIRP was initiated following the admission of C.P.(IB)No.228/BB/2018 filed by Indu Corporation Private Limited. The RP published advertisements inviting Expressions of Interest (EOI) from prospective resolution applicants. The Committee of Creditors
…Wahaca Trading Private Limited, an operational creditor of Bhuwalka Steel Industries Limited, filed an application seeking the replacement of the Resolution Professional (RP), Mr. Shivadutt Bannanje, alleging misconduct and unsatisfactory performance. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition by Indu Corporation Private Limited. The RP published advertisements inviting Expressions of Interest (EOI) from prospective resolution applicants. The Committee of Creditors (CoC) decided to invite Resolution Plans from those who submitted EOIs. The High Court of Karnataka granted a stay on the CIRP proceedings, restraining the RP from opening, considering, evaluating, or approving any Resolution Plans. Wahaca Trading
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C.P.(IB)No.228/BB/2018…
Corporate Insolvency Resolution Process…
Wahaca Trading Private Limited filed I.A.No.106/2020 in C.P.(IB)No.228/BB/2018 under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the discharge/replacement of Mr. Shivadutt Bannanje as the Resolution Professional (RP) of the Corporate Debtor, Bhuwalka Steel Industries Limited, and the appointment of another RP. The applicant also sought to inform the IBBI of the RP's alleged misconduct and requested an interim stay on the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The CIRP was initiated following the admission of C.P.(IB)No.228/BB/2018 filed by Indu Corporation Private Limited. The RP published advertisements inviting Expressions of Interest (EOI) from prospective resolution applicants. The Committee of Creditors
…Wahaca Trading Private Limited, an operational creditor of Bhuwalka Steel Industries Limited, filed an application seeking the replacement of the Resolution Professional (RP), Mr. Shivadutt Bannanje, alleging misconduct and unsatisfactory performance. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition by Indu Corporation Private Limited. The RP published advertisements inviting Expressions of Interest (EOI) from prospective resolution applicants. The Committee of Creditors (CoC) decided to invite Resolution Plans from those who submitted EOIs. The High Court of Karnataka granted a stay on the CIRP proceedings, restraining the RP from opening, considering, evaluating, or approving any Resolution Plans. Wahaca Trading
…C.P.(IB)No.228/BB/2018…
Corporate Insolvency Resolution Process…