The case pertains to an interlocutory application (IA No.01/2024) filed for the approval of a resolution plan for M/s Colorcity Homes Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition (CP (IB) No.04/ALD/2020) filed by M/s Neon Vincom Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Adjudicating Authority admitted the petition on 02.03.2023. Hemi Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The resolution plan was submitted by Vibhor Vaibhav Infrahome Private Limited and approved by the Committee of Creditors (CoC) with 100% voting share.
M/s Colorcity Homes Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) initiated by M/s Neon Vincom Pvt. Ltd., a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 02.03.2023. Hemi Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement was made on 05.03.2023. The last date for submission of claims was 16.03.2023. The RP received claims from unsecured financial creditors amounting to Rs.4,35,30,777.91/-, out of which Rs.3,04,43,132.59/- were admitted. Claims from unsecured financial creditors (real estate allottees) amounted to Rs.5,31,00,000/-, all of which were admitted. The CoC approved the publication
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The underlying Company…
The Company Petition CP…
The case pertains to an interlocutory application (IA No.01/2024) filed for the approval of a resolution plan for M/s Colorcity Homes Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition (CP (IB) No.04/ALD/2020) filed by M/s Neon Vincom Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Adjudicating Authority admitted the petition on 02.03.2023. Hemi Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The resolution plan was submitted by Vibhor Vaibhav Infrahome Private Limited and approved by the Committee of Creditors (CoC) with 100% voting share.
M/s Colorcity Homes Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) initiated by M/s Neon Vincom Pvt. Ltd., a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 02.03.2023. Hemi Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement was made on 05.03.2023. The last date for submission of claims was 16.03.2023. The RP received claims from unsecured financial creditors amounting to Rs.4,35,30,777.91/-, out of which Rs.3,04,43,132.59/- were admitted. Claims from unsecured financial creditors (real estate allottees) amounted to Rs.5,31,00,000/-, all of which were admitted. The CoC approved the publication
…The underlying Company…
The Company Petition CP…