The case pertains to an application (I.A. 2118/2021) filed by the Resolution Professional seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period for Housing Development & Infrastructure Ltd. The CIRP was initiated on 20.08.2019, and more than 730 days have passed since its commencement. The Committee of Creditors (COC) explored the possibility of a resolution plan by dividing the assets into 8 projects. However, no successful resolution plan has been achieved. The application seeks an extension beyond the statutory limit of 330 days.
The Corporate Insolvency Resolution Process (CIRP) for Housing Development & Infrastructure Ltd. commenced on 20.08.2019. More than 730 days have passed since the commencement of CIRP. The Committee of Creditors (COC) explored the possibility of a resolution plan by dividing the total assets into 8 projects. The Corporate Debtor Company could not get any successful Resolution Plan. The 18th committee of Creditors (COC) meeting held on 8th September 2021, all the financial creditors comprising of Banks/other financial institutions wanted to go for liquidation. The Resolution Professional filed I.A. 2118/2021 seeking an extension of the CIRP period beyond the statutory limit of 330 days. The relevance of these facts is that they establish the prolonged nature of the
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CIRP of the Corporate…
The 18th committee of Creditors (COC) meeting…
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The case pertains to an application (I.A. 2118/2021) filed by the Resolution Professional seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period for Housing Development & Infrastructure Ltd. The CIRP was initiated on 20.08.2019, and more than 730 days have passed since its commencement. The Committee of Creditors (COC) explored the possibility of a resolution plan by dividing the assets into 8 projects. However, no successful resolution plan has been achieved. The application seeks an extension beyond the statutory limit of 330 days.
The Corporate Insolvency Resolution Process (CIRP) for Housing Development & Infrastructure Ltd. commenced on 20.08.2019. More than 730 days have passed since the commencement of CIRP. The Committee of Creditors (COC) explored the possibility of a resolution plan by dividing the total assets into 8 projects. The Corporate Debtor Company could not get any successful Resolution Plan. The 18th committee of Creditors (COC) meeting held on 8th September 2021, all the financial creditors comprising of Banks/other financial institutions wanted to go for liquidation. The Resolution Professional filed I.A. 2118/2021 seeking an extension of the CIRP period beyond the statutory limit of 330 days. The relevance of these facts is that they establish the prolonged nature of the
…CIRP of the Corporate…
The 18th committee of Creditors (COC) meeting…
Sign in to view related legal provisions.