The case involves an application (IA(IBC)/695(KB)2021) filed by the Resolution Professional of Barcley Enterprises Limited, the Corporate Debtor, seeking liquidation due to the absence of a resolution plan despite the publication of Form ‘G’. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor vide order dated 29/08/2019. Mr. Jai Narayan Gupta was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Public announcement in Form ‘A’ was published on 06/09/2019, and the CoC was formed on 24/09/2019. Form ‘G’ was published on 14/11/2019, with a deadline of 02/12/2019 for receiving Expression of Interest, but no such interests were received. The CIRP period was extended and later
…Barcley Enterprises Limited (Corporate Debtor) underwent CIRP initiated on 29/08/2019 due to financial distress. Mr. Jai Narayan Gupta was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Despite the publication of Form ‘G’ inviting resolution plans, no Expression of Interest was received by the deadline of 02/12/2019. The CIRP period was extended and later excluded by 369 days, ultimately ending on 28/07/2021. The Resolution Professional filed IA(IBC)/695(KB)2021 seeking liquidation due to the absence of a resolution plan. The last available Balance Sheet on the MCA Portal was only up to 2013-14. The RP has also filed an application being IA (IB) No.315 (KB)2021 under sections 43, 45 and 66 for preferential,
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The Adjudicating Authority ordered the…
Public announcement in Form ‘A’ was published in…
The case involves an application (IA(IBC)/695(KB)2021) filed by the Resolution Professional of Barcley Enterprises Limited, the Corporate Debtor, seeking liquidation due to the absence of a resolution plan despite the publication of Form ‘G’. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor vide order dated 29/08/2019. Mr. Jai Narayan Gupta was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Public announcement in Form ‘A’ was published on 06/09/2019, and the CoC was formed on 24/09/2019. Form ‘G’ was published on 14/11/2019, with a deadline of 02/12/2019 for receiving Expression of Interest, but no such interests were received. The CIRP period was extended and later
…Barcley Enterprises Limited (Corporate Debtor) underwent CIRP initiated on 29/08/2019 due to financial distress. Mr. Jai Narayan Gupta was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Despite the publication of Form ‘G’ inviting resolution plans, no Expression of Interest was received by the deadline of 02/12/2019. The CIRP period was extended and later excluded by 369 days, ultimately ending on 28/07/2021. The Resolution Professional filed IA(IBC)/695(KB)2021 seeking liquidation due to the absence of a resolution plan. The last available Balance Sheet on the MCA Portal was only up to 2013-14. The RP has also filed an application being IA (IB) No.315 (KB)2021 under sections 43, 45 and 66 for preferential,
…The Adjudicating Authority ordered the…
Public announcement in Form ‘A’ was published in…