The case involves an Interlocutory Application (IA No. 31/2021) filed by the Liquidator of M/s. V.N.R. Infrastructures Ltd. under Section 60 and Regulation 47A of the IBBI (Liquidation Process) Regulations, 2016. The liquidator sought directions to exclude the lockdown period between 21.03.2020 and 30.11.2020 from the liquidation period due to the COVID-19 pandemic. The corporate debtor's liquidation process was ongoing, and the liquidator had previously obtained an extension until 20.06.2020. The liquidator had also sold intangible assets of the corporate debtor and filed an application for confirmation of the sale.
M/s. V.N.R. Infrastructures Ltd. is undergoing liquidation. The Liquidator, Mr. TSN Raja, filed IA No. 31/2021 seeking exclusion of the lockdown period (21.03.2020 to 30.11.2020) from the liquidation timeline due to the COVID-19 pandemic. The liquidator had taken control of the company as liquidator on 21.09.2017. The liquidator sold intangible assets of the Corporate Debtor. The liquidation period was previously extended until 20.06.2020. The Adjudicating Authority had allowed IA No.289/2020 vide order dated 20.03.2020, extending the liquidation period. The assets of the Corporate Debtor are mainly situated in the State of Telangana. The sale of WIP and furniture to M/s. Fortuna Engineering for Rs.12.43 Crores was subject to approval by the Adjudicating Authority. The
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M/s. VNR Infrastructure…
Liquidator sold (WIP)…
The case involves an Interlocutory Application (IA No. 31/2021) filed by the Liquidator of M/s. V.N.R. Infrastructures Ltd. under Section 60 and Regulation 47A of the IBBI (Liquidation Process) Regulations, 2016. The liquidator sought directions to exclude the lockdown period between 21.03.2020 and 30.11.2020 from the liquidation period due to the COVID-19 pandemic. The corporate debtor's liquidation process was ongoing, and the liquidator had previously obtained an extension until 20.06.2020. The liquidator had also sold intangible assets of the corporate debtor and filed an application for confirmation of the sale.
M/s. V.N.R. Infrastructures Ltd. is undergoing liquidation. The Liquidator, Mr. TSN Raja, filed IA No. 31/2021 seeking exclusion of the lockdown period (21.03.2020 to 30.11.2020) from the liquidation timeline due to the COVID-19 pandemic. The liquidator had taken control of the company as liquidator on 21.09.2017. The liquidator sold intangible assets of the Corporate Debtor. The liquidation period was previously extended until 20.06.2020. The Adjudicating Authority had allowed IA No.289/2020 vide order dated 20.03.2020, extending the liquidation period. The assets of the Corporate Debtor are mainly situated in the State of Telangana. The sale of WIP and furniture to M/s. Fortuna Engineering for Rs.12.43 Crores was subject to approval by the Adjudicating Authority. The
…M/s. VNR Infrastructure…
Liquidator sold (WIP)…