The case involves an application (I.A.No.08 of 2020) filed in C.P.(IB) No.215/BB/2019 under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the liquidation of the Corporate Debtor, Veracious Builders and Developers Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by Reddarrow Communications under Section 7 of the IBC. The Adjudicating Authority admitted the application on 30th July 2019, initiating CIRP and appointing an Interim Resolution Professional (IRP).
Reddarrow Communications initiated CIRP against Veracious Builders and Developers Pvt Ltd under Section 7 of IBC, which was admitted on July 30, 2019. Ms. Shirley Mathew filed an application seeking liquidation of Veracious Builders under Section 33(2) of IBC. The Committee of Creditors (CoC), comprising Reliance AIF Management Company Limited and Reliance Nippon Life Asset Management Limited, resolved to liquidate the Corporate Debtor due to the absence of viable business operations and future earnings prospects. The Corporate Debtor had not filed annual returns with the Registrar of Companies after the financial year 2014-2015. The suspended Directors of the Corporate Debtor allegedly sold properties without the consent of the mortgagor. The total liabilities of the
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The case involves an application (I.A.No.08 of 2020) filed in C.P.(IB) No.215/BB/2019 under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the liquidation of the Corporate Debtor, Veracious Builders and Developers Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by Reddarrow Communications under Section 7 of the IBC. The Adjudicating Authority admitted the application on 30th July 2019, initiating CIRP and appointing an Interim Resolution Professional (IRP).
Reddarrow Communications initiated CIRP against Veracious Builders and Developers Pvt Ltd under Section 7 of IBC, which was admitted on July 30, 2019. Ms. Shirley Mathew filed an application seeking liquidation of Veracious Builders under Section 33(2) of IBC. The Committee of Creditors (CoC), comprising Reliance AIF Management Company Limited and Reliance Nippon Life Asset Management Limited, resolved to liquidate the Corporate Debtor due to the absence of viable business operations and future earnings prospects. The Corporate Debtor had not filed annual returns with the Registrar of Companies after the financial year 2014-2015. The suspended Directors of the Corporate Debtor allegedly sold properties without the consent of the mortgagor. The total liabilities of the
…The Adjudicating Authority admitted the…
The first meeting of…
Sign in to view related legal provisions.