The application IA/IBC(LIQ)/28(CHE)/2025 was filed in CP(IB)/152/(CHE)/2023 under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s. Gugnani Leasing and Hire Purchase Private Limited.
The application seeks liquidation of M/s. Gugnani Leasing and Hire Purchase Private Limited.
The Corporate Insolvency Resolution Process (CIRP) was initiated on 27.06.2025.
Public announcements were made on 04.07.2025 in Business Standard (English) and Hindu Tamil (Tamil).
The Committee of Creditors (CoC) was constituted on 24.07.2025.
The 1st CoC meeting was held on 01.08.2025.
Mr. P. Balasubramaniam was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
No resolution plan was received despite issuing Form-G and the lapse of statutory timelines.
The CoC voted for liquidation in its 4th meeting held on 06.10.2025.
Bank of Baroda, holding 72.23% of the voting share, voted in support of liquidation.
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The Corporate…
Mr. P. Balasubramaniam…
The application IA/IBC(LIQ)/28(CHE)/2025 was filed in CP(IB)/152/(CHE)/2023 under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s. Gugnani Leasing and Hire Purchase Private Limited.
The application seeks liquidation of M/s. Gugnani Leasing and Hire Purchase Private Limited.
The Corporate Insolvency Resolution Process (CIRP) was initiated on 27.06.2025.
Public announcements were made on 04.07.2025 in Business Standard (English) and Hindu Tamil (Tamil).
The Committee of Creditors (CoC) was constituted on 24.07.2025.
The 1st CoC meeting was held on 01.08.2025.
Mr. P. Balasubramaniam was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
No resolution plan was received despite issuing Form-G and the lapse of statutory timelines.
The CoC voted for liquidation in its 4th meeting held on 06.10.2025.
Bank of Baroda, holding 72.23% of the voting share, voted in support of liquidation.
…The Corporate…
Mr. P. Balasubramaniam…