The case involves an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Giridhan Projects Private Limited, because no resolution plan was received. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following an order dated 02.08.2019 by the Adjudicating Authority on a petition filed by SREI Infrastructure Finance Limited (financial creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Pratim Bayal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Dipti Ranjan Nath.
SREI Infrastructure Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of CIRP against Giridhan Projects Private Limited. Pratim Bayal was initially appointed as IRP, later replaced by Dipti Ranjan Nath as RP. Public announcements were made in Financial Express and Aajkal newspapers, setting a deadline for claim submissions. The CoC was constituted and held meetings. Despite multiple attempts to solicit resolution plans, including republication of Form G and extension of the CIRP period, no EoI was received. The CoC then voted 100% in favor of liquidation. The RP formed an independent opinion that there were certain preferential and extortionate transactions. An application against rejection of claim
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The Adjudicating Authority ordered the…
IRP made a public…
The case involves an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, Giridhan Projects Private Limited, because no resolution plan was received. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following an order dated 02.08.2019 by the Adjudicating Authority on a petition filed by SREI Infrastructure Finance Limited (financial creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Pratim Bayal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Dipti Ranjan Nath.
SREI Infrastructure Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of CIRP against Giridhan Projects Private Limited. Pratim Bayal was initially appointed as IRP, later replaced by Dipti Ranjan Nath as RP. Public announcements were made in Financial Express and Aajkal newspapers, setting a deadline for claim submissions. The CoC was constituted and held meetings. Despite multiple attempts to solicit resolution plans, including republication of Form G and extension of the CIRP period, no EoI was received. The CoC then voted 100% in favor of liquidation. The RP formed an independent opinion that there were certain preferential and extortionate transactions. An application against rejection of claim
…The Adjudicating Authority ordered the…
IRP made a public…