The case involves an application filed by Sheth Developers Pvt Ltd. (Applicant) seeking verification of its claim and classification as a Secured Financial Creditor under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Golden Tobacco Limited (Corporate Debtor) on June 7, 2022. The Applicant, a real estate developer, claimed to be a secured creditor, but its claim was initially rejected by the Interim Resolution Professional (IRP), AVM Resolution Professionals LLP.
…The Applicant, Sheth Developers Pvt Ltd., is engaged in real estate projects and claims to be a secured creditor of the Corporate Debtor, Golden Tobacco Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on June 7, 2022. The Interim Resolution Professional (IRP), AVM Resolution Professionals LLP, initially rejected the Applicant's claim as 'Financial Debt' and refused to recognize its secured status.
…The applicant entered into a Memorandum of…
The Hon'ble Supreme Court declared the MoU…
The case involves an application filed by Sheth Developers Pvt Ltd. (Applicant) seeking verification of its claim and classification as a Secured Financial Creditor under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Golden Tobacco Limited (Corporate Debtor) on June 7, 2022. The Applicant, a real estate developer, claimed to be a secured creditor, but its claim was initially rejected by the Interim Resolution Professional (IRP), AVM Resolution Professionals LLP.
…The Applicant, Sheth Developers Pvt Ltd., is engaged in real estate projects and claims to be a secured creditor of the Corporate Debtor, Golden Tobacco Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on June 7, 2022. The Interim Resolution Professional (IRP), AVM Resolution Professionals LLP, initially rejected the Applicant's claim as 'Financial Debt' and refused to recognize its secured status.
…The applicant entered into a Memorandum of…
The Hon'ble Supreme Court declared the MoU…