The case involves an application (CP (IB) No. 88/7/HDB/2019) filed by NCC Limited, a financial creditor, against Himagiri Enterprises Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted, and CIRP was initiated. An Interim Resolution Professional (IRP) was appointed and later replaced by Mr. Sridhar V.S. as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed, with NCC Limited as the sole financial creditor. The CoC approved the issuance of an Expression of Interest (EoI), but no responses were received. Discussions for a One Time Settlement (OTS) were initiated with the suspended Director of the Corporate Debtor, Mr. Nageswara Rao, and confirmed by both parties.
…NCC Limited, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Himagiri Enterprises Private Limited by filing CP (IB) No.88/7/HDB/2019, which was admitted on 2020-09-23. Mr. Ram Murthy Kommera was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sridhar V.S. The Committee of Creditors (CoC) consisted solely of NCC Limited. An Expression of Interest (EoI) was issued, but no responses were received. Discussions for a One Time Settlement (OTS) were initiated, and a settlement deed for Rs. 17.56 crores was signed. The settlement involved the transfer of properties and payment of Rs. 5 crores. Due to COVID-19, settlement actions were delayed. The Corporate Debtor handed over two properties and made
…Sign in to view the parties.
Application bearing CP (IB) No.88/7/HDB/2019…
The Adjudicating Authority admitted the…
The case involves an application (CP (IB) No. 88/7/HDB/2019) filed by NCC Limited, a financial creditor, against Himagiri Enterprises Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted, and CIRP was initiated. An Interim Resolution Professional (IRP) was appointed and later replaced by Mr. Sridhar V.S. as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed, with NCC Limited as the sole financial creditor. The CoC approved the issuance of an Expression of Interest (EoI), but no responses were received. Discussions for a One Time Settlement (OTS) were initiated with the suspended Director of the Corporate Debtor, Mr. Nageswara Rao, and confirmed by both parties.
…NCC Limited, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Himagiri Enterprises Private Limited by filing CP (IB) No.88/7/HDB/2019, which was admitted on 2020-09-23. Mr. Ram Murthy Kommera was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sridhar V.S. The Committee of Creditors (CoC) consisted solely of NCC Limited. An Expression of Interest (EoI) was issued, but no responses were received. Discussions for a One Time Settlement (OTS) were initiated, and a settlement deed for Rs. 17.56 crores was signed. The settlement involved the transfer of properties and payment of Rs. 5 crores. Due to COVID-19, settlement actions were delayed. The Corporate Debtor handed over two properties and made
…Application bearing CP (IB) No.88/7/HDB/2019…
The Adjudicating Authority admitted the…