The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against M/s.Dreamz Infra India Limited. The CIRP was initiated based on a petition filed by Pratap Chandra Padhy and other homebuyers under Section 7 of the IBC, 2016, due to a default of Rs.40,06,625. The Adjudicating Authority admitted the petition on August 20, 2019, appointed Ashok Kriplani as the Interim Resolution Professional (IRP), and imposed a moratorium. Several IAs were filed by the IRP seeking various directions and reliefs, including contributions from the Committee of Creditors (CoC), access to the Corporate Debtor's accounts, and appointment of an Authorised Representative (AR) for the homebuyers. The IRP faced challenges, including non-cooperation from the Corporate Debtor's
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s.Dreamz Infra India Limited based on a petition filed by Pratap Chandra Padhy and other homebuyers under Section 7 of the IBC, 2016, due to a default of Rs.40,06,625. Ashok Kriplani was appointed as the Interim Resolution Professional (IRP). The IRP faced several challenges, including non-cooperation from the Corporate Debtor's management, difficulties in collecting claims from a large number of scattered homebuyers (around 2003), and disagreements with the Committee of Creditors (CoC) regarding expenses and fees. The IRP filed several IAs seeking directions and reliefs, including contributions from the CoC, access to the Corporate Debtor's accounts, and appointment of an Authorised
…Sign in to view the parties.
The Adjudicating Authority admitted the…
The IRP wrote to the Original Applicants to…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against M/s.Dreamz Infra India Limited. The CIRP was initiated based on a petition filed by Pratap Chandra Padhy and other homebuyers under Section 7 of the IBC, 2016, due to a default of Rs.40,06,625. The Adjudicating Authority admitted the petition on August 20, 2019, appointed Ashok Kriplani as the Interim Resolution Professional (IRP), and imposed a moratorium. Several IAs were filed by the IRP seeking various directions and reliefs, including contributions from the Committee of Creditors (CoC), access to the Corporate Debtor's accounts, and appointment of an Authorised Representative (AR) for the homebuyers. The IRP faced challenges, including non-cooperation from the Corporate Debtor's
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s.Dreamz Infra India Limited based on a petition filed by Pratap Chandra Padhy and other homebuyers under Section 7 of the IBC, 2016, due to a default of Rs.40,06,625. Ashok Kriplani was appointed as the Interim Resolution Professional (IRP). The IRP faced several challenges, including non-cooperation from the Corporate Debtor's management, difficulties in collecting claims from a large number of scattered homebuyers (around 2003), and disagreements with the Committee of Creditors (CoC) regarding expenses and fees. The IRP filed several IAs seeking directions and reliefs, including contributions from the CoC, access to the Corporate Debtor's accounts, and appointment of an Authorised
…The Adjudicating Authority admitted the…
The IRP wrote to the Original Applicants to…