The case pertains to the insolvency resolution process of Tecpro Infra-Projects Limited. The CIRP was initiated on 2019-09-27 and extended. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2020-08-27 because no resolution plan was accepted. The applicant produced voting sheets and minutes of the CoC meeting dated 2020-08-27. The resolution for liquidation was approved by 66.77% of the voting share. The State Bank of India did not participate in the E-voting but gave consent to liquidate.
The Corporate Debtor, Tecpro Infra-Projects Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2019-09-27, which was later extended. The Committee of Creditors (CoC) resolved on 2020-08-27 to liquidate the Corporate Debtor due to the absence of an accepted resolution plan. The resolution for liquidation was approved by 66.77% of the voting share. State Bank of India, although not participating in the E-voting, consented to the liquidation. The Resolution Professional (RP), CS Satyadevi Alamuri, also consented to act as liquidator. The Adjudicating Authority considered Section 33 of the IBC, 2016, regarding the initiation of liquidation. The CIRP period, even after excluding lockdown periods and extensions, had ended on 2020-08-30. The
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Corporate Insolvency Resolution Process…
CIRP was exten…
The case pertains to the insolvency resolution process of Tecpro Infra-Projects Limited. The CIRP was initiated on 2019-09-27 and extended. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2020-08-27 because no resolution plan was accepted. The applicant produced voting sheets and minutes of the CoC meeting dated 2020-08-27. The resolution for liquidation was approved by 66.77% of the voting share. The State Bank of India did not participate in the E-voting but gave consent to liquidate.
The Corporate Debtor, Tecpro Infra-Projects Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2019-09-27, which was later extended. The Committee of Creditors (CoC) resolved on 2020-08-27 to liquidate the Corporate Debtor due to the absence of an accepted resolution plan. The resolution for liquidation was approved by 66.77% of the voting share. State Bank of India, although not participating in the E-voting, consented to the liquidation. The Resolution Professional (RP), CS Satyadevi Alamuri, also consented to act as liquidator. The Adjudicating Authority considered Section 33 of the IBC, 2016, regarding the initiation of liquidation. The CIRP period, even after excluding lockdown periods and extensions, had ended on 2020-08-30. The
…Corporate Insolvency Resolution Process…
CIRP was exten…