The case involves an application (IA No. 606 of 2021) filed in CP(IB)No.284/9/HDB/2020 by the Resolution Professional of Bluewheel Infrastructure Private Limited, seeking an order for the liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by the Operational Creditor, Growing Leaf Agrotrade Pvt Ltd, under Section 9 of the IBC. The application was admitted on 2016-06-18, and the applicant was appointed as the Interim Resolution Professional, later confirmed as RP. The Corporate Debtor had no viable business for the past 2 years and had no fixed assets. A registered valuer valued the securities and financial assets of the Corporate Debtor at Zero. The CoC, in its second meeting held on
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Bluewheel Infrastructure Private Limited based on a petition filed by Growing Leaf Agrotrade Pvt Ltd under Section 9 of the IBC. The application was admitted on 2016-06-18. The Resolution Professional (RP) filed an application (IA No. 606 of 2021) seeking liquidation of the Corporate Debtor. The Corporate Debtor had no viable business for the past 2 years and no fixed assets. A registered valuer valued the securities and financial assets of the Corporate Debtor at Zero. The Committee of Creditors (CoC) in its meeting on 2021-09-14, resolved to proceed with liquidation with 96.84% voting, finding no scope for resolution. The RP, Mr. Rajkumar Sarda, expressed his willingness to act as the
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The application for initiation of Corporate…
The Committee of Creditors (CoC) held its…
The case involves an application (IA No. 606 of 2021) filed in CP(IB)No.284/9/HDB/2020 by the Resolution Professional of Bluewheel Infrastructure Private Limited, seeking an order for the liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by the Operational Creditor, Growing Leaf Agrotrade Pvt Ltd, under Section 9 of the IBC. The application was admitted on 2016-06-18, and the applicant was appointed as the Interim Resolution Professional, later confirmed as RP. The Corporate Debtor had no viable business for the past 2 years and had no fixed assets. A registered valuer valued the securities and financial assets of the Corporate Debtor at Zero. The CoC, in its second meeting held on
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Bluewheel Infrastructure Private Limited based on a petition filed by Growing Leaf Agrotrade Pvt Ltd under Section 9 of the IBC. The application was admitted on 2016-06-18. The Resolution Professional (RP) filed an application (IA No. 606 of 2021) seeking liquidation of the Corporate Debtor. The Corporate Debtor had no viable business for the past 2 years and no fixed assets. A registered valuer valued the securities and financial assets of the Corporate Debtor at Zero. The Committee of Creditors (CoC) in its meeting on 2021-09-14, resolved to proceed with liquidation with 96.84% voting, finding no scope for resolution. The RP, Mr. Rajkumar Sarda, expressed his willingness to act as the
…The application for initiation of Corporate…
The Committee of Creditors (CoC) held its…