The case involves an application (I.A No.133 of 2018) filed by the Resolution Professional, Smt. R. Bhuvaneshwari, seeking an order to identify, appropriate, and transfer assets of BCIL Red Earth (India) Private Limited, Biodiversity Conservation India Private Limited, and BCIL Green Energy (India) Private Limited to the Corporate Debtor, Zed Fabs India Private Limited, to cover outstanding dues. The application arises within the Corporate Insolvency Resolution Process (CIRP) of Zed Fabs India Private Limited. The Resolution Professional seeks to take possession of these assets to facilitate the CIRP.
Zed Fabs India Private Limited was incorporated on January 11, 2011, and was engaged in the business of manufacturing and dealing in furniture and wood products. It primarily catered to the furnishing requirements of its group companies involved in real estate. The company faced financial difficulties, leading to the initiation of CIRP. The Resolution Professional identified that the company had outstanding dues from BCIL Red Earth (India) Private Limited (Rs.2,20,02,243/-), Biodiversity Conservation India Private Limited (Rs.1,49,26,282/-), and BCIL Green Energy (India) Private Limited (Rs.1,50,606/-). These companies are part of the same group and have a common director, Mr. Hariharan, who is also a promoter cum director of the Corporate Debtor. The financials of Zed
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Zed Fabs India…
IRP constituted the CoC…
The case involves an application (I.A No.133 of 2018) filed by the Resolution Professional, Smt. R. Bhuvaneshwari, seeking an order to identify, appropriate, and transfer assets of BCIL Red Earth (India) Private Limited, Biodiversity Conservation India Private Limited, and BCIL Green Energy (India) Private Limited to the Corporate Debtor, Zed Fabs India Private Limited, to cover outstanding dues. The application arises within the Corporate Insolvency Resolution Process (CIRP) of Zed Fabs India Private Limited. The Resolution Professional seeks to take possession of these assets to facilitate the CIRP.
Zed Fabs India Private Limited was incorporated on January 11, 2011, and was engaged in the business of manufacturing and dealing in furniture and wood products. It primarily catered to the furnishing requirements of its group companies involved in real estate. The company faced financial difficulties, leading to the initiation of CIRP. The Resolution Professional identified that the company had outstanding dues from BCIL Red Earth (India) Private Limited (Rs.2,20,02,243/-), Biodiversity Conservation India Private Limited (Rs.1,49,26,282/-), and BCIL Green Energy (India) Private Limited (Rs.1,50,606/-). These companies are part of the same group and have a common director, Mr. Hariharan, who is also a promoter cum director of the Corporate Debtor. The financials of Zed
…Zed Fabs India…
IRP constituted the CoC…