The case pertains to an application filed under sections 33(1)(a), 33(2) & 34(1) of the IBC, 2016, regarding M/s. Chandra Royal Inn Private Limited. The Corporate Debtor underwent a Corporate Insolvency Resolution Process (CIRP). The applicant was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP received four claims, including those from SIDBI (Financial Creditor) and State Tax Officer, Nagapatinam (Operational Creditor). The RP approved the claims of SIDBI and the State Tax Officer but rejected the claims of unsecured financial creditors due to non-compliance with IBBI regulations. The RP appointed registered valuers, determined the liquidation value, and published an invitation for Expression
…M/s. Chandra Royal Inn Private Limited underwent CIRP. The applicant, Mr. Tharuvai Ramachandran Ravichandran, was appointed as IRP and later confirmed as RP. The RP received four claims, including SIDBI (Financial Creditor) and State Tax Officer, Nagapatinam (Operational Creditor). The RP approved claims of SIDBI and State Tax Officer but rejected claims of unsecured financial creditors due to non-compliance with Regulation 7 & 8 of the IBBI (IRPCP) Regulations, 2016. The RP appointed two Registered Valuers and determined the liquidation value as ₹4.86 crores. The RP published an invitation for Expression of Interest (EOI) in 'Indian Express' and 'Dinamani'. Only one conditional resolution plan was received and rejected by the CoC. The CoC, in its 6th meeting on
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The case pertains to an application filed under sections 33(1)(a), 33(2) & 34(1) of the IBC, 2016, regarding M/s. Chandra Royal Inn Private Limited. The Corporate Debtor underwent a Corporate Insolvency Resolution Process (CIRP). The applicant was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP received four claims, including those from SIDBI (Financial Creditor) and State Tax Officer, Nagapatinam (Operational Creditor). The RP approved the claims of SIDBI and the State Tax Officer but rejected the claims of unsecured financial creditors due to non-compliance with IBBI regulations. The RP appointed registered valuers, determined the liquidation value, and published an invitation for Expression
…M/s. Chandra Royal Inn Private Limited underwent CIRP. The applicant, Mr. Tharuvai Ramachandran Ravichandran, was appointed as IRP and later confirmed as RP. The RP received four claims, including SIDBI (Financial Creditor) and State Tax Officer, Nagapatinam (Operational Creditor). The RP approved claims of SIDBI and State Tax Officer but rejected claims of unsecured financial creditors due to non-compliance with Regulation 7 & 8 of the IBBI (IRPCP) Regulations, 2016. The RP appointed two Registered Valuers and determined the liquidation value as ₹4.86 crores. The RP published an invitation for Expression of Interest (EOI) in 'Indian Express' and 'Dinamani'. Only one conditional resolution plan was received and rejected by the CoC. The CoC, in its 6th meeting on
…The case was admitted,…
The applicant was…
Sign in to view related legal provisions.