The applicants, land owners of the Canopy Crest Classic Project, filed an application under Section 60(5) of the IBC, 2016 to confine the Corporate Insolvency Resolution Process (CIRP) to a particular project, Canopy Signature, and prevent it from affecting other projects of the corporate debtor. The corporate debtor, Canopy Estates Pvt. Ltd., had undertaken three projects: Canopy Crest Signature, Canopy Crest IRS, and Canopy Crest Classic. The CIRP was initiated against the corporate debtor on June 6, 2022.
The corporate debtor, Canopy Estates Pvt. Ltd., is involved in three projects: Canopy Crest Signature, Canopy Crest IRS, and Canopy Crest Classic. The Adjudicating Authority initiated CIRP against the corporate debtor on June 6, 2022, in C.P.(IB)No. 21/BB/2020, imposing a moratorium and appointing Mr. Girish Kambadaraya as the Interim Resolution Professional (IRP). A public announcement was made on June 10, 2022, and the IRP began collecting claims and determining the corporate debtor's financial position to constitute a Committee of Creditors (CoC).
…Land owners and Developers/CEPL entered into a…
The Joint Deve…
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The applicants, land owners of the Canopy Crest Classic Project, filed an application under Section 60(5) of the IBC, 2016 to confine the Corporate Insolvency Resolution Process (CIRP) to a particular project, Canopy Signature, and prevent it from affecting other projects of the corporate debtor. The corporate debtor, Canopy Estates Pvt. Ltd., had undertaken three projects: Canopy Crest Signature, Canopy Crest IRS, and Canopy Crest Classic. The CIRP was initiated against the corporate debtor on June 6, 2022.
The corporate debtor, Canopy Estates Pvt. Ltd., is involved in three projects: Canopy Crest Signature, Canopy Crest IRS, and Canopy Crest Classic. The Adjudicating Authority initiated CIRP against the corporate debtor on June 6, 2022, in C.P.(IB)No. 21/BB/2020, imposing a moratorium and appointing Mr. Girish Kambadaraya as the Interim Resolution Professional (IRP). A public announcement was made on June 10, 2022, and the IRP began collecting claims and determining the corporate debtor's financial position to constitute a Committee of Creditors (CoC).
…Land owners and Developers/CEPL entered into a…
The Joint Deve…
Sign in to view related legal provisions.