The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, by the Resolution Professional (RP) seeking a liquidation order for Durha Vitrak Private Limited. The Committee of Creditors (CoC) resolved to initiate the liquidation process after deeming the received resolution plans not feasible. The Corporate Insolvency Resolution Process (CIRP) was initiated, and the RP invited claims from creditors and constituted a CoC with LIC Housing Finance Limited as the primary financial creditor. The RP prepared an Information Memorandum and sought expressions of interest, receiving interest from four prospective resolution applicants but only two proposed resolution plans.
Durha Vitrak Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated under the Insolvency and Bankruptcy Code (IBC), 2016. LIC Housing Finance Limited was the primary financial creditor. Aishwarya Mohan Gahrana was appointed as the Resolution Professional (RP). The RP invited claims from creditors and constituted a Committee of Creditors (CoC). Dr. Arinjaya Jain, another financial creditor, was a related party to the Corporate Debtor. The RP prepared an Information Memorandum and sought expressions of interest. Four prospective resolution applicants expressed interest, but only two submitted resolution plans. The CoC, in its 6th meeting on 2021-01-28, deemed the resolution plans unfeasible and resolved to initiate liquidation. The RP filed an
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The applic…
IRP was appointed as RP…
The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, by the Resolution Professional (RP) seeking a liquidation order for Durha Vitrak Private Limited. The Committee of Creditors (CoC) resolved to initiate the liquidation process after deeming the received resolution plans not feasible. The Corporate Insolvency Resolution Process (CIRP) was initiated, and the RP invited claims from creditors and constituted a CoC with LIC Housing Finance Limited as the primary financial creditor. The RP prepared an Information Memorandum and sought expressions of interest, receiving interest from four prospective resolution applicants but only two proposed resolution plans.
Durha Vitrak Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated under the Insolvency and Bankruptcy Code (IBC), 2016. LIC Housing Finance Limited was the primary financial creditor. Aishwarya Mohan Gahrana was appointed as the Resolution Professional (RP). The RP invited claims from creditors and constituted a Committee of Creditors (CoC). Dr. Arinjaya Jain, another financial creditor, was a related party to the Corporate Debtor. The RP prepared an Information Memorandum and sought expressions of interest. Four prospective resolution applicants expressed interest, but only two submitted resolution plans. The CoC, in its 6th meeting on 2021-01-28, deemed the resolution plans unfeasible and resolved to initiate liquidation. The RP filed an
…The applic…
IRP was appointed as RP…