The case involves an application filed by Mr. G. Murali, the Resolution Professional (RP) of M/s. BTT Industries Pvt Ltd (Corporate Debtor), under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Liquidation Proceedings of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 15.10.2019. The Committee of Creditors (CoC) was formed with two operational creditors, V.S. Rao & Co and TSSPDCL, Mahabubnagar. The RP did not issue a public announcement of Invitation for Expression of Interest (EOI) because the CoC did not approve it, citing a lack of assets in the Corporate Debtor.
Mr. G. Murali, the Resolution Professional (RP) of M/s. BTT Industries Pvt Ltd (Corporate Debtor), filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Liquidation Proceedings of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 15.10.2019. The Committee of Creditors (CoC) was formed with two operational creditors, V.S. Rao & Co and TSSPDCL, Mahabubnagar. The RP did not issue a public announcement of Invitation for Expression of Interest (EOI) because the CoC did not approve it, citing a lack of assets in the Corporate Debtor. There was no Invitation for EOI issued by the Applicant, no resolution plan for Corporate Debtor was received by the
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The Corporate Debtor was admitted into…
The present App…
The case involves an application filed by Mr. G. Murali, the Resolution Professional (RP) of M/s. BTT Industries Pvt Ltd (Corporate Debtor), under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Liquidation Proceedings of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 15.10.2019. The Committee of Creditors (CoC) was formed with two operational creditors, V.S. Rao & Co and TSSPDCL, Mahabubnagar. The RP did not issue a public announcement of Invitation for Expression of Interest (EOI) because the CoC did not approve it, citing a lack of assets in the Corporate Debtor.
Mr. G. Murali, the Resolution Professional (RP) of M/s. BTT Industries Pvt Ltd (Corporate Debtor), filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Liquidation Proceedings of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 15.10.2019. The Committee of Creditors (CoC) was formed with two operational creditors, V.S. Rao & Co and TSSPDCL, Mahabubnagar. The RP did not issue a public announcement of Invitation for Expression of Interest (EOI) because the CoC did not approve it, citing a lack of assets in the Corporate Debtor. There was no Invitation for EOI issued by the Applicant, no resolution plan for Corporate Debtor was received by the
…The Corporate Debtor was admitted into…
The present App…