The Corporate Insolvency Resolution Process (CIRP) for M/s Shivkala Developers Pvt. Ltd. was initiated by Noble Cooperative Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Anup Kumar was appointed as the Interim Resolution Professional and later confirmed. The Committee of Creditors (CoC) approved a resolution plan submitted by M/s Cimco Projects Ltd. However, the Resolution Applicant (RA) did not appear on several dates, leading to the issuance of bailable warrants. The RA then filed applications for cancellation of these warrants, citing lack of awareness of the proceedings. The RP filed CA 734/2018 for approval of the resolution plan, but the RA failed to furnish a performance guarantee as directed by the Tribunal. The CoC approved the resolution
…On 2018-02-12, the Corporate Insolvency Resolution Process (CIRP) was initiated for M/s Shivkala Developers Pvt. Ltd. based on an application by Noble Cooperative Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Anup Kumar was appointed as the Interim Resolution Professional and later confirmed. The Committee of Creditors (CoC) approved a resolution plan submitted by M/s Cimco Projects Ltd. in their 10th meeting held on 2018-11-07. The Resolution Applicant (RA) failed to appear on multiple dates, leading to the issuance of bailable warrants. The RA filed applications for cancellation of these warrants, citing lack of awareness of the proceedings. The RP filed IA-734 of 2018 under Section 30(6) & 31 of the Code on 2018-09-11 for approval of the
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Corporate Insolvency Resolution Process (CIRP)…
The Corporate Insolvency Resolution Process (CIRP) for M/s Shivkala Developers Pvt. Ltd. was initiated by Noble Cooperative Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Anup Kumar was appointed as the Interim Resolution Professional and later confirmed. The Committee of Creditors (CoC) approved a resolution plan submitted by M/s Cimco Projects Ltd. However, the Resolution Applicant (RA) did not appear on several dates, leading to the issuance of bailable warrants. The RA then filed applications for cancellation of these warrants, citing lack of awareness of the proceedings. The RP filed CA 734/2018 for approval of the resolution plan, but the RA failed to furnish a performance guarantee as directed by the Tribunal. The CoC approved the resolution
…On 2018-02-12, the Corporate Insolvency Resolution Process (CIRP) was initiated for M/s Shivkala Developers Pvt. Ltd. based on an application by Noble Cooperative Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. Anup Kumar was appointed as the Interim Resolution Professional and later confirmed. The Committee of Creditors (CoC) approved a resolution plan submitted by M/s Cimco Projects Ltd. in their 10th meeting held on 2018-11-07. The Resolution Applicant (RA) failed to appear on multiple dates, leading to the issuance of bailable warrants. The RA filed applications for cancellation of these warrants, citing lack of awareness of the proceedings. The RP filed IA-734 of 2018 under Section 30(6) & 31 of the Code on 2018-09-11 for approval of the
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Corporate Insolvency Resolution Process (CIRP)…