The case pertains to an application filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking directions for the liquidation of the corporate debtor, VGA Developers Private Limited. The operational creditor, Syndicate Steel Traders, had previously filed an application under Section 9 of the IBC for initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. This application was admitted on 2020-01-06, and Mr. Pankaj Kumar Singhal was appointed as the Interim Resolution Professional (IRP). Mr. Pankaj Kumar Singhal was later replaced by Mr. Aishwarya Mohan Gahrana as the RP.
Syndicate Steel Traders, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against VGA Developers Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 2020-01-06. Mr. Pankaj Kumar Singhal was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Mr. Aishwarya Mohan Gahrana. Public announcements were made to invite resolution applicants. The Committee of Creditors (CoC) re-issued Form-G on 2021-02-12, inviting expressions of interest. Only one expression of interest was received from Kundan Care Products Limited, which was subsequently rejected by the CoC due to non-viability with a 93.187% voting share. The CIRP period
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Syndicate Steel Traders filed an application…
The application filed…
The case pertains to an application filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking directions for the liquidation of the corporate debtor, VGA Developers Private Limited. The operational creditor, Syndicate Steel Traders, had previously filed an application under Section 9 of the IBC for initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. This application was admitted on 2020-01-06, and Mr. Pankaj Kumar Singhal was appointed as the Interim Resolution Professional (IRP). Mr. Pankaj Kumar Singhal was later replaced by Mr. Aishwarya Mohan Gahrana as the RP.
Syndicate Steel Traders, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against VGA Developers Private Limited by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 2020-01-06. Mr. Pankaj Kumar Singhal was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Mr. Aishwarya Mohan Gahrana. Public announcements were made to invite resolution applicants. The Committee of Creditors (CoC) re-issued Form-G on 2021-02-12, inviting expressions of interest. Only one expression of interest was received from Kundan Care Products Limited, which was subsequently rejected by the CoC due to non-viability with a 93.187% voting share. The CIRP period
…Syndicate Steel Traders filed an application…
The application filed…