The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Amazon Enterprises Private Limited. The CIRP was initiated vide order dated 29.10.2018. Subsequently, an application for liquidation was filed and approved on 14.06.2019. Mr. Nethi Mallikarjuna Setty was appointed as the Liquidator. The Liquidator took steps to manage the liquidation process, including filing a list of stakeholders, submitting preliminary reports, and attempting to sell the assets of the Corporate Debtor. Several issues arose regarding the assets, including disputes over property ownership and the realization of assets. The Liquidator sought permission to assign not readily realisable assets to the sole financial creditor, Union Bank of India.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Amazon Enterprises Private Limited on 29.10.2018. An application for liquidation was approved on 14.06.2019, and Mr. Nethi Mallikarjuna Setty was appointed as the Liquidator. The Liquidator filed a list of stakeholders and submitted preliminary reports. Attempts to sell the Corporate Debtor's assets, including land and machinery, were largely unsuccessful, with some assets being sold as scrap. Disputes arose regarding the ownership of certain properties, including land admeasuring 28.694 guntas and another property admeasuring 1000 sq. yards. IA No.213 of 2019 was filed to set aside certain sale transactions, and this application was allowed on 13.10.2023, cancelling the Sale Deed dated
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The Corporate Insolvency Resolution Process…
An Interim Application for liquidation of the…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Amazon Enterprises Private Limited. The CIRP was initiated vide order dated 29.10.2018. Subsequently, an application for liquidation was filed and approved on 14.06.2019. Mr. Nethi Mallikarjuna Setty was appointed as the Liquidator. The Liquidator took steps to manage the liquidation process, including filing a list of stakeholders, submitting preliminary reports, and attempting to sell the assets of the Corporate Debtor. Several issues arose regarding the assets, including disputes over property ownership and the realization of assets. The Liquidator sought permission to assign not readily realisable assets to the sole financial creditor, Union Bank of India.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Amazon Enterprises Private Limited on 29.10.2018. An application for liquidation was approved on 14.06.2019, and Mr. Nethi Mallikarjuna Setty was appointed as the Liquidator. The Liquidator filed a list of stakeholders and submitted preliminary reports. Attempts to sell the Corporate Debtor's assets, including land and machinery, were largely unsuccessful, with some assets being sold as scrap. Disputes arose regarding the ownership of certain properties, including land admeasuring 28.694 guntas and another property admeasuring 1000 sq. yards. IA No.213 of 2019 was filed to set aside certain sale transactions, and this application was allowed on 13.10.2023, cancelling the Sale Deed dated
…The Corporate Insolvency Resolution Process…
An Interim Application for liquidation of the…