The case involves an application (I.A. No.469/2019) filed in C.P.(IB)No.96/BB/2019 by Shri Chandrasekhar Sagutoor, the Interim Resolution Professional (IRP), seeking permission to withdraw the main Company Petition. The original petition (C.P.(IB)No.96/BB/2019) was filed by M/s. Charan Logistics (Operational Creditor) under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Muralikrishna Infracon (Bangalore) Private Limited (Corporate Debtor) due to a default of Rs.8,33,216/-. The Adjudicating Authority had admitted the case on 09.08.2019, initiating CIRP and appointing Shri Chandrasekhar Sagutoor as the IRP. Public announcements were made, and claims were received from the Operational Creditor and Bank of Baroda. A
…M/s. Charan Logistics, an operational creditor, filed C.P.(IB)No.96/BB/2019 under Section 9 of the IBC, 2016, to initiate CIRP against M/s. Muralikrishna Infracon (Bangalore) Private Limited, the corporate debtor, due to a default of Rs.8,33,216/-. The Adjudicating Authority admitted the case on 09.08.2019, initiating CIRP and appointing Shri Chandrasekhar Sagutoor as the IRP. Public announcements were made, and claims were received from the Operational Creditor and Bank of Baroda, the sole financial creditor. A settlement was reached between the Corporate Debtor, represented by Mr. Muralikrishna Medi Raju, and the Operational Creditor, represented by Mr. Yadagiri Thummalapalli, for Rs.8,00,000/-. The Committee of Creditors (CoC) was formed with Bank of Baroda as the
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The case involves an application (I.A. No.469/2019) filed in C.P.(IB)No.96/BB/2019 by Shri Chandrasekhar Sagutoor, the Interim Resolution Professional (IRP), seeking permission to withdraw the main Company Petition. The original petition (C.P.(IB)No.96/BB/2019) was filed by M/s. Charan Logistics (Operational Creditor) under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Muralikrishna Infracon (Bangalore) Private Limited (Corporate Debtor) due to a default of Rs.8,33,216/-. The Adjudicating Authority had admitted the case on 09.08.2019, initiating CIRP and appointing Shri Chandrasekhar Sagutoor as the IRP. Public announcements were made, and claims were received from the Operational Creditor and Bank of Baroda. A
…M/s. Charan Logistics, an operational creditor, filed C.P.(IB)No.96/BB/2019 under Section 9 of the IBC, 2016, to initiate CIRP against M/s. Muralikrishna Infracon (Bangalore) Private Limited, the corporate debtor, due to a default of Rs.8,33,216/-. The Adjudicating Authority admitted the case on 09.08.2019, initiating CIRP and appointing Shri Chandrasekhar Sagutoor as the IRP. Public announcements were made, and claims were received from the Operational Creditor and Bank of Baroda, the sole financial creditor. A settlement was reached between the Corporate Debtor, represented by Mr. Muralikrishna Medi Raju, and the Operational Creditor, represented by Mr. Yadagiri Thummalapalli, for Rs.8,00,000/-. The Committee of Creditors (CoC) was formed with Bank of Baroda as the
…Adjudicating Authority…
Interim Resolution…