The case involves an application (IA 165 of 2020) filed in Company Petition (IB) No. 56/NCLT/AHM/2019 under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IB Code) for the liquidation of the Corporate Debtor. The initial application, CP(IB)No. 56 of 2019, was filed by Financial Creditor M/s. AVV AD Avenue OPC Private Limited under Section 7 of the IB Code, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This application was admitted on 2019-04-22, and Mr. Parag Sheth was appointed as Interim Resolution Professional (IRP).
M/s. AVV AD Avenue OPC Private Limited, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against City Tiles Limited by filing CP(IB)No. 56 of 2019 under Section 7 of the IB Code. The application was admitted on 2019-04-22, and Mr. Parag Sheth was appointed as Interim Resolution Professional (IRP). The Committee of Creditors (CoC) later decided to replace Mr. Sheth with Mr. Ravi Kapoor, who was appointed as Resolution Professional (RP) on 2019-07-18. The CoC then decided to extend the CIRP period by 90 days, which was approved on 2019-10-09. However, in its fourth meeting on 2020-01-07, the CoC resolved to liquidate City Tiles Limited due to the absence of any Expression of Interest (EOI). The RP then filed IA 165 of 2020 under Section 33
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Application filed by M/s. AVV AD Avenue OPC…
The Committee of…
The case involves an application (IA 165 of 2020) filed in Company Petition (IB) No. 56/NCLT/AHM/2019 under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IB Code) for the liquidation of the Corporate Debtor. The initial application, CP(IB)No. 56 of 2019, was filed by Financial Creditor M/s. AVV AD Avenue OPC Private Limited under Section 7 of the IB Code, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. This application was admitted on 2019-04-22, and Mr. Parag Sheth was appointed as Interim Resolution Professional (IRP).
M/s. AVV AD Avenue OPC Private Limited, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against City Tiles Limited by filing CP(IB)No. 56 of 2019 under Section 7 of the IB Code. The application was admitted on 2019-04-22, and Mr. Parag Sheth was appointed as Interim Resolution Professional (IRP). The Committee of Creditors (CoC) later decided to replace Mr. Sheth with Mr. Ravi Kapoor, who was appointed as Resolution Professional (RP) on 2019-07-18. The CoC then decided to extend the CIRP period by 90 days, which was approved on 2019-10-09. However, in its fourth meeting on 2020-01-07, the CoC resolved to liquidate City Tiles Limited due to the absence of any Expression of Interest (EOI). The RP then filed IA 165 of 2020 under Section 33
…Application filed by M/s. AVV AD Avenue OPC…
The Committee of…