The case involves an application filed by the Resolution Professional (RP) of Sarawgi Builders & Promoters Private Limited, the Corporate Debtor, seeking liquidation due to the absence of any resolution plan despite the publication of Form 'G'. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 17/10/2019. The RP was confirmed at the first meeting of the Committee of Creditors (CoC) held on 15/11/2019. Public announcement was made on 30/10/2019, inviting claims from creditors. Bank of India filed a claim, but the form was unsigned and lacked documents. The CoC was reconstituted on 22/01/2020. The 3rd CoC meeting indicated a resolution for liquidation passed with 100% voting share.
Kanwaljit Singh, operating as Gobind Shuttering Store, is the Operational Creditor. Sarawgi Builders & Promoters Private Limited is the Corporate Debtor. The CIRP was initiated against the Corporate Debtor on 17/10/2019. Mr. Nitesh Kumar More is the Resolution Professional. No resolution plan was received despite the publication of Form 'G'. Bank of India filed a claim of Rs.30,26,57,547/-, but the claim form was unsigned and lacked documents. The Committee of Creditors (CoC) was reconstituted on 22/01/2020. The 3rd CoC meeting indicated a resolution for liquidation passed with 100% voting share. The last available Balance Sheet on the MCA Portal was only up to 2016-17. The RP cited COVID-19 and partial cooperation from the Corporate Debtor as reasons for not
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Order dated 17/10/2019…
Interim Resolution Professional confirmed as…
The case involves an application filed by the Resolution Professional (RP) of Sarawgi Builders & Promoters Private Limited, the Corporate Debtor, seeking liquidation due to the absence of any resolution plan despite the publication of Form 'G'. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 17/10/2019. The RP was confirmed at the first meeting of the Committee of Creditors (CoC) held on 15/11/2019. Public announcement was made on 30/10/2019, inviting claims from creditors. Bank of India filed a claim, but the form was unsigned and lacked documents. The CoC was reconstituted on 22/01/2020. The 3rd CoC meeting indicated a resolution for liquidation passed with 100% voting share.
Kanwaljit Singh, operating as Gobind Shuttering Store, is the Operational Creditor. Sarawgi Builders & Promoters Private Limited is the Corporate Debtor. The CIRP was initiated against the Corporate Debtor on 17/10/2019. Mr. Nitesh Kumar More is the Resolution Professional. No resolution plan was received despite the publication of Form 'G'. Bank of India filed a claim of Rs.30,26,57,547/-, but the claim form was unsigned and lacked documents. The Committee of Creditors (CoC) was reconstituted on 22/01/2020. The 3rd CoC meeting indicated a resolution for liquidation passed with 100% voting share. The last available Balance Sheet on the MCA Portal was only up to 2016-17. The RP cited COVID-19 and partial cooperation from the Corporate Debtor as reasons for not
…Order dated 17/10/2019…
Interim Resolution Professional confirmed as…