The case involves an application filed under Section 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of liquidation proceedings for Laxmipati Balaji Infra Pvt. Ltd., the Corporate Debtor. The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) on 2019-06-07, following an application filed by the Operational Creditor under Section 9 of the IBC, 2016. An Interim Resolution Professional (IRP) was appointed, who made a public announcement of Expression of Interest in Form A on 2019-06-13. The IRP was later replaced by the Committee of Creditors (COC) in its first meeting on 2019-07-05, which was approved by the Adjudicating Authority on 2019-08-13. The Adjudicating Authority directed to re-notify
…Laxmipati Balaji Infra Pvt. Ltd. (the 'Corporate Debtor') underwent Corporate Insolvency Resolution Process (CIRP) initiated by an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on 2019-06-07. An Interim Resolution Professional (IRP) was appointed and subsequently replaced by a Resolution Professional (RP) selected by the Committee of Creditors (COC). Despite extending the CIRP period by 90 days, no resolution plan was received. The COC, in its seventh meeting on 2020-02-12, unanimously decided to liquidate the Corporate Debtor. The COC resolved to appoint the RP as the liquidator, with a minimum fee of Rs. 1 Lac + GST expenses, as per Regulation 4 of the IBBI (liquidation process) Regulations, 2016. The
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Corporate Debtor admitted into Corporate…
Interim Resolution Professional (IRP) made a…
The case involves an application filed under Section 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of liquidation proceedings for Laxmipati Balaji Infra Pvt. Ltd., the Corporate Debtor. The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) on 2019-06-07, following an application filed by the Operational Creditor under Section 9 of the IBC, 2016. An Interim Resolution Professional (IRP) was appointed, who made a public announcement of Expression of Interest in Form A on 2019-06-13. The IRP was later replaced by the Committee of Creditors (COC) in its first meeting on 2019-07-05, which was approved by the Adjudicating Authority on 2019-08-13. The Adjudicating Authority directed to re-notify
…Laxmipati Balaji Infra Pvt. Ltd. (the 'Corporate Debtor') underwent Corporate Insolvency Resolution Process (CIRP) initiated by an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on 2019-06-07. An Interim Resolution Professional (IRP) was appointed and subsequently replaced by a Resolution Professional (RP) selected by the Committee of Creditors (COC). Despite extending the CIRP period by 90 days, no resolution plan was received. The COC, in its seventh meeting on 2020-02-12, unanimously decided to liquidate the Corporate Debtor. The COC resolved to appoint the RP as the liquidator, with a minimum fee of Rs. 1 Lac + GST expenses, as per Regulation 4 of the IBBI (liquidation process) Regulations, 2016. The
…Corporate Debtor admitted into Corporate…
Interim Resolution Professional (IRP) made a…