The application IA/165/2020 was filed in CP/1144/IB/2018 under Sections 12, 25, and 60(5) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016. The Corporate Insolvency Resolution Process (CIRP) for TAVAS Constructions Private Limited was initiated on 2020-03-11. The applicant, S.R. Krishnan, was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP sought exclusion of time period from 2020-03-25 to 2020-12-31 from the CIRP timeline due to the Covid-19 pandemic and associated lockdowns.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. TAVAS Constructions Private Limited on 2020-03-11. S.R. Krishnan was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Due to the Covid-19 pandemic and subsequent lockdowns imposed by the State and Central Governments starting in March 2020, the RP was unable to carry out the CIRP proceedings effectively. The first Committee of Creditors (CoC) meeting was held via video conferencing on 2020-06-12. The 4th CoC meeting held on 2020-11-03 extended the deadline for submission of the Resolution Plan to 2020-12-31. The Corporate Debtor reported a revenue of Rs.2.7 Crore for the year ended 2020-03-31 and had prospective Resolution Applicants
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Corporate Insolvency Resolution Process (CIRP)…
Public announcement…
The application IA/165/2020 was filed in CP/1144/IB/2018 under Sections 12, 25, and 60(5) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016. The Corporate Insolvency Resolution Process (CIRP) for TAVAS Constructions Private Limited was initiated on 2020-03-11. The applicant, S.R. Krishnan, was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP sought exclusion of time period from 2020-03-25 to 2020-12-31 from the CIRP timeline due to the Covid-19 pandemic and associated lockdowns.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. TAVAS Constructions Private Limited on 2020-03-11. S.R. Krishnan was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Due to the Covid-19 pandemic and subsequent lockdowns imposed by the State and Central Governments starting in March 2020, the RP was unable to carry out the CIRP proceedings effectively. The first Committee of Creditors (CoC) meeting was held via video conferencing on 2020-06-12. The 4th CoC meeting held on 2020-11-03 extended the deadline for submission of the Resolution Plan to 2020-12-31. The Corporate Debtor reported a revenue of Rs.2.7 Crore for the year ended 2020-03-31 and had prospective Resolution Applicants
…Corporate Insolvency Resolution Process (CIRP)…
Public announcement…