The case pertains to an application (I.A. 34 of 2024) filed by the Resolution Professional (RP) of KVIR Towers Private Limited, the Corporate Debtor (CD), under Sections 54K(15) and 54(L) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 49 of the IBBI (Pre-Packaged Insolvency Resolution Process) Regulations, 2021, seeking approval of the Resolution Plan. Earlier, the Plan I.A. was reserved on 29.07.2024, but inconsistencies in the submitted resolution plan led the Adjudicating Authority to de-reserve the matter and seek clarifications, which were provided via affidavits dated 25.10.2024 and 08.11.2024.
KVIR Towers Private Limited (Corporate Debtor) filed a petition under Section 54 C of the Insolvency & Bankruptcy Code seeking initiation of Pre-Packaged Insolvency Resolution Process (PPIRP). The Corporate Debtor was admitted into PPIRP on 20.02.2024, and the Applicant was appointed as the Resolution Professional (RP). A public announcement was issued on 21.02.2024, inviting creditors to submit claims. The RP received claims and issued a list of claims on 06.03.2024. The Committee of Creditors (CoC) was constituted, and the first meeting was held on 01.03.2024, where the base Resolution Plan was discussed. Two registered valuers were appointed, who valued the land and building at Rs. 2,50,80,00,000 and Securities or Financial Assets (SFA) at Rs. 25,23,500. The
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KVIR Towers Private Limited was admitted into…
Public announcement was…
The case pertains to an application (I.A. 34 of 2024) filed by the Resolution Professional (RP) of KVIR Towers Private Limited, the Corporate Debtor (CD), under Sections 54K(15) and 54(L) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 49 of the IBBI (Pre-Packaged Insolvency Resolution Process) Regulations, 2021, seeking approval of the Resolution Plan. Earlier, the Plan I.A. was reserved on 29.07.2024, but inconsistencies in the submitted resolution plan led the Adjudicating Authority to de-reserve the matter and seek clarifications, which were provided via affidavits dated 25.10.2024 and 08.11.2024.
KVIR Towers Private Limited (Corporate Debtor) filed a petition under Section 54 C of the Insolvency & Bankruptcy Code seeking initiation of Pre-Packaged Insolvency Resolution Process (PPIRP). The Corporate Debtor was admitted into PPIRP on 20.02.2024, and the Applicant was appointed as the Resolution Professional (RP). A public announcement was issued on 21.02.2024, inviting creditors to submit claims. The RP received claims and issued a list of claims on 06.03.2024. The Committee of Creditors (CoC) was constituted, and the first meeting was held on 01.03.2024, where the base Resolution Plan was discussed. Two registered valuers were appointed, who valued the land and building at Rs. 2,50,80,00,000 and Securities or Financial Assets (SFA) at Rs. 25,23,500. The
…KVIR Towers Private Limited was admitted into…
Public announcement was…