The Resolution Professional (RP) filed an application seeking liquidation of the Corporate Debtor, Berial Engineers Pvt. Ltd., based on the instructions of the Committee of Creditors (CoC). The application was filed because the Corporate Debtor had no business activity. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on December 10, 2021, following a petition filed by Tata Hitachi Construction Machinery Company Private Limited ('Operational Creditor') under Section 9 of the Insolvency and Bankruptcy Code, 2016. Mr. Purshotam Gaggar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional.
Tata Hitachi Construction Machinery Company Private Limited, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Berial Engineers Pvt. Ltd., the Corporate Debtor. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) on December 10, 2021, and appointed Mr. Purshotam Gaggar as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP published a public announcement on January 8, 2022. The IRP received two claims, one from UCO Bank (Financial Creditor) for Rs. 9,79,26,620.58 and another from Tata Hitachi Construction Machinery Co. Pvt. Ltd (Operational Creditor) for Rs. 13,28,79,360.00. UCO Bank, being the sole financial creditor,
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The Adjudicating Authority initiated the…
The Interim Resolution Professional (IRP)…
The Resolution Professional (RP) filed an application seeking liquidation of the Corporate Debtor, Berial Engineers Pvt. Ltd., based on the instructions of the Committee of Creditors (CoC). The application was filed because the Corporate Debtor had no business activity. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor on December 10, 2021, following a petition filed by Tata Hitachi Construction Machinery Company Private Limited ('Operational Creditor') under Section 9 of the Insolvency and Bankruptcy Code, 2016. Mr. Purshotam Gaggar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional.
Tata Hitachi Construction Machinery Company Private Limited, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Berial Engineers Pvt. Ltd., the Corporate Debtor. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) on December 10, 2021, and appointed Mr. Purshotam Gaggar as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP published a public announcement on January 8, 2022. The IRP received two claims, one from UCO Bank (Financial Creditor) for Rs. 9,79,26,620.58 and another from Tata Hitachi Construction Machinery Co. Pvt. Ltd (Operational Creditor) for Rs. 13,28,79,360.00. UCO Bank, being the sole financial creditor,
…The Adjudicating Authority initiated the…
The Interim Resolution Professional (IRP)…