The case involves an application (IA No. 838/2020) filed in CP(IB)No.532/07/HDB/2019 by the Resolution Professional (RP) of Sri Lakshminarasimha Oil Mills Private Limited, seeking an order for liquidation of the Corporate Debtor under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2019-11-13. The Committee of Creditors (CoC) was formed, and an Expression of Interest was invited for Resolution Plans. Three parties expressed interest, but only one, Mrs. Chittimalla Revathi, submitted a plan but failed to deposit the required Earnest Money Deposit (EMD) or Security Deposit (SD).
Sri Lakshminarasimha Oil Mills Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP commenced on 2019-11-13. The first meeting of the Committee of Creditors (CoC) was held on 2019-12-06, where the existing Interim Resolution Professional (IRP) was appointed as Resolution Professional (RP). An Expression of Interest (EOI) was invited for Resolution Plans, and the RP received EOIs from three parties. The final list of prospective Resolution Applicants was released on 2020-03-25. Out of the three applicants, only Mrs. Chittimalla Revathi submitted a plan but requested an extension of time due to COVID-19 related difficulties. Mrs. Revathi failed to deposit the required Earnest Money Deposit (EMD) or Security Deposit (SD) by the
…Sign in to view the parties.
The Applicant Company…
The First meeting of Committee of Creditors…
The case involves an application (IA No. 838/2020) filed in CP(IB)No.532/07/HDB/2019 by the Resolution Professional (RP) of Sri Lakshminarasimha Oil Mills Private Limited, seeking an order for liquidation of the Corporate Debtor under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2019-11-13. The Committee of Creditors (CoC) was formed, and an Expression of Interest was invited for Resolution Plans. Three parties expressed interest, but only one, Mrs. Chittimalla Revathi, submitted a plan but failed to deposit the required Earnest Money Deposit (EMD) or Security Deposit (SD).
Sri Lakshminarasimha Oil Mills Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP commenced on 2019-11-13. The first meeting of the Committee of Creditors (CoC) was held on 2019-12-06, where the existing Interim Resolution Professional (IRP) was appointed as Resolution Professional (RP). An Expression of Interest (EOI) was invited for Resolution Plans, and the RP received EOIs from three parties. The final list of prospective Resolution Applicants was released on 2020-03-25. Out of the three applicants, only Mrs. Chittimalla Revathi submitted a plan but requested an extension of time due to COVID-19 related difficulties. Mrs. Revathi failed to deposit the required Earnest Money Deposit (EMD) or Security Deposit (SD) by the
…The Applicant Company…
The First meeting of Committee of Creditors…