The case involves an application for liquidation of the corporate debtor, Earth Iconoic Infrastructures Pvt. Ltd., based on a resolution passed by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Yogesh Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Harish Chander Manchanda. The IRP issued a public announcement inviting claims from creditors, receiving 732 claims amounting to 172 crores. The CoC was constituted, and the IRP was confirmed as the Resolution Professional (RP). The RP appointed valuers to assess the liquidation value, which was determined to be Rs. 57.67 crores.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Earth Iconoic Infrastructures Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Yogesh Gupta was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Mr. Harish Chander Manchanda. The IRP received 732 claims from creditors, totaling 172 crores. The liquidation value of the company was determined to be Rs. 57.67 crores. The CoC rejected an Expression of Interest (EOI) from Migsum Group on 11.04.2019. Unicorn Buildtech & associates filed CA-1553(PB)/2019 seeking an opportunity to submit a resolution plan, which was initially allowed but later rejected by the CoC on 08.11.2019 with a 91% voting share. Another resolution plan submitted by
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Corporate Professional…
The Committ…
The case involves an application for liquidation of the corporate debtor, Earth Iconoic Infrastructures Pvt. Ltd., based on a resolution passed by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Yogesh Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Harish Chander Manchanda. The IRP issued a public announcement inviting claims from creditors, receiving 732 claims amounting to 172 crores. The CoC was constituted, and the IRP was confirmed as the Resolution Professional (RP). The RP appointed valuers to assess the liquidation value, which was determined to be Rs. 57.67 crores.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Earth Iconoic Infrastructures Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Yogesh Gupta was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Mr. Harish Chander Manchanda. The IRP received 732 claims from creditors, totaling 172 crores. The liquidation value of the company was determined to be Rs. 57.67 crores. The CoC rejected an Expression of Interest (EOI) from Migsum Group on 11.04.2019. Unicorn Buildtech & associates filed CA-1553(PB)/2019 seeking an opportunity to submit a resolution plan, which was initially allowed but later rejected by the CoC on 08.11.2019 with a 91% voting share. Another resolution plan submitted by
…Corporate Professional…
The Committ…