The case pertains to a Company Petition (CP(IB) No. 13/10/HDB/2017) filed by VNR Infra Metals Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petitioner, VNR Infra Metals Private Limited, was originally incorporated as VNR Logistics Private Limited and later changed its name in 2014. The company's main business involves trading and acting as agents in metals, minerals, and infrastructure development.
VNR Infra Metals Private Limited filed a Company Petition (CP(IB) No. 13/10/HDB/2017) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company, previously known as VNR Logistics Private Limited, changed its name in 2014. The company's primary business involves trading in metals, minerals, and infrastructure development. As of the petition filing date, the defaulted dues to financial creditors amounted to Rs.88.33 crores, including principal and interest. Financial creditors had initiated recovery proceedings under Section 13(4) of the SARFAESI Act, 2002, leading the Corporate Debtor to file a petition before the Debt Recovery Tribunal (DRT), Hyderabad. The Board of Directors
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Board of Directors proposed to appoint Mr.…
The case pertains to a Company Petition (CP(IB) No. 13/10/HDB/2017) filed by VNR Infra Metals Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petitioner, VNR Infra Metals Private Limited, was originally incorporated as VNR Logistics Private Limited and later changed its name in 2014. The company's main business involves trading and acting as agents in metals, minerals, and infrastructure development.
VNR Infra Metals Private Limited filed a Company Petition (CP(IB) No. 13/10/HDB/2017) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company, previously known as VNR Logistics Private Limited, changed its name in 2014. The company's primary business involves trading in metals, minerals, and infrastructure development. As of the petition filing date, the defaulted dues to financial creditors amounted to Rs.88.33 crores, including principal and interest. Financial creditors had initiated recovery proceedings under Section 13(4) of the SARFAESI Act, 2002, leading the Corporate Debtor to file a petition before the Debt Recovery Tribunal (DRT), Hyderabad. The Board of Directors
…Financial creditors…
Board of Directors proposed to appoint Mr.…