The case involves CA Nos. 569/2019 and 944/2019 in CP (IB) No. 161/Chd/Hry/2018, concerning the corporate insolvency resolution process (CIRP) of Skyhigh Infraland Pvt. Ltd. Allahabad Bank, the financial creditor, initiated the CIRP. The Committee of Creditors (COC) filed CA No. 569/2019 seeking exclusion of time due to litigation and further extension of the CIRP period. The CIRP was initiated on 29.10.2018. Form G was published on 16.01.2019, and republished on 05.03.2019 and 10.06.2019. The initial 180-day CIRP period was extended by 90 days on 02.05.2019. Ms. Seema Rana was selected as the H1 resolution applicant, but her plan was rejected by the COC due to dissent from Allahabad Bank. A revised plan was submitted on 26.09.2019. INR Constructions also submitted a
…Allahabad Bank initiated the Corporate Insolvency Resolution Process (CIRP) against Skyhigh Infraland Pvt. Ltd. The CIRP commencement date was 29.10.2018. Form G, inviting Expression of Interest (EOI), was published multiple times: initially on 16.01.2019, then on 05.03.2019, and again on 10.06.2019. The initial 180-day CIRP period was extended by 90 days on 02.05.2019. Ms. Seema Rana emerged as the H1 resolution applicant, but her initial resolution plan was rejected by the Committee of Creditors (COC) due to dissent from Allahabad Bank (47% voting share) despite approval from home buyers (52.7% voting share). Ms. Rana submitted a revised resolution plan on 26.09.2019. INR Constructions also submitted a resolution plan on 20.10.2019. CA No. 569/2019 was filed on
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Corporate Insolvency Resolution Process (CIRP)…
Form G (inviting…
The case involves CA Nos. 569/2019 and 944/2019 in CP (IB) No. 161/Chd/Hry/2018, concerning the corporate insolvency resolution process (CIRP) of Skyhigh Infraland Pvt. Ltd. Allahabad Bank, the financial creditor, initiated the CIRP. The Committee of Creditors (COC) filed CA No. 569/2019 seeking exclusion of time due to litigation and further extension of the CIRP period. The CIRP was initiated on 29.10.2018. Form G was published on 16.01.2019, and republished on 05.03.2019 and 10.06.2019. The initial 180-day CIRP period was extended by 90 days on 02.05.2019. Ms. Seema Rana was selected as the H1 resolution applicant, but her plan was rejected by the COC due to dissent from Allahabad Bank. A revised plan was submitted on 26.09.2019. INR Constructions also submitted a
…Allahabad Bank initiated the Corporate Insolvency Resolution Process (CIRP) against Skyhigh Infraland Pvt. Ltd. The CIRP commencement date was 29.10.2018. Form G, inviting Expression of Interest (EOI), was published multiple times: initially on 16.01.2019, then on 05.03.2019, and again on 10.06.2019. The initial 180-day CIRP period was extended by 90 days on 02.05.2019. Ms. Seema Rana emerged as the H1 resolution applicant, but her initial resolution plan was rejected by the Committee of Creditors (COC) due to dissent from Allahabad Bank (47% voting share) despite approval from home buyers (52.7% voting share). Ms. Rana submitted a revised resolution plan on 26.09.2019. INR Constructions also submitted a resolution plan on 20.10.2019. CA No. 569/2019 was filed on
…Corporate Insolvency Resolution Process (CIRP)…
Form G (inviting…