The case involves an Interlocutory Application (IA 2529/2022) filed by the Resolution Professional, Mr. Raj Kumar Dad, seeking the initiation of liquidation of the Corporate Debtor, Bhattad Brothers Realty Private Limited, under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by the Financial Creditor, Rangbarshi Projects Private Limited, under Section 7 of the IBC, claiming a default of Rs 1,62,13,611/-. The Tribunal had initiated CIRP on 15.12.2021 and appointed the Applicant as the Interim Resolution Professional (IRP).
Rangbarshi Projects Private Limited, a Financial Creditor, filed a Company Petition (CP(IB)/4172/2019) under Section 7 of the IBC against Bhattad Brothers Realty Private Limited, the Corporate Debtor, claiming a default of Rs 1,62,13,611/-. The NCLT initiated the Corporate Insolvency Resolution Process (CIRP) on 15.12.2021 and appointed Mr. Raj Kumar Dad as the Interim Resolution Professional (IRP). Mr. Dad then constituted a Committee of Creditors (CoC). Public announcements were made to invite claims from creditors. The first CoC meeting was held on 14.01.2022, where the CoC decided to continue Mr. Dad as the Resolution Professional and appoint two valuers. Vayam Valuers & Advisors (OPC) Private Limited and Ramesh Kumavat were appointed as valuers. The second CoC
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Rangbarshi Projects Private Limited filed a…
The Tribunal initiated the Corporate Insolvency…
The case involves an Interlocutory Application (IA 2529/2022) filed by the Resolution Professional, Mr. Raj Kumar Dad, seeking the initiation of liquidation of the Corporate Debtor, Bhattad Brothers Realty Private Limited, under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by the Financial Creditor, Rangbarshi Projects Private Limited, under Section 7 of the IBC, claiming a default of Rs 1,62,13,611/-. The Tribunal had initiated CIRP on 15.12.2021 and appointed the Applicant as the Interim Resolution Professional (IRP).
Rangbarshi Projects Private Limited, a Financial Creditor, filed a Company Petition (CP(IB)/4172/2019) under Section 7 of the IBC against Bhattad Brothers Realty Private Limited, the Corporate Debtor, claiming a default of Rs 1,62,13,611/-. The NCLT initiated the Corporate Insolvency Resolution Process (CIRP) on 15.12.2021 and appointed Mr. Raj Kumar Dad as the Interim Resolution Professional (IRP). Mr. Dad then constituted a Committee of Creditors (CoC). Public announcements were made to invite claims from creditors. The first CoC meeting was held on 14.01.2022, where the CoC decided to continue Mr. Dad as the Resolution Professional and appoint two valuers. Vayam Valuers & Advisors (OPC) Private Limited and Ramesh Kumavat were appointed as valuers. The second CoC
…Rangbarshi Projects Private Limited filed a…
The Tribunal initiated the Corporate Insolvency…