The case involves an application for liquidation of M/s C&C Constructions Limited under Section 33 of the Insolvency and Bankruptcy Code, 2016, due to the expiry of the CIRP period and rejection of the resolution plan. ICICI Bank Limited initiated the CIRP under Section 7 of the Code. The corporate insolvency resolution process (CIRP) was initiated against the Corporate Debtor on 14.02.2019. The applicant, on 17.02.2019, caused a public announcement. An appeal was filed against the admission of CIRP, and settlement proposals were made. The NCLAT gave opportunities for settlement. The Committee of Creditors (COC) was eventually formed, and resolution plans were considered but ultimately rejected. The CIRP period was extended multiple times. An application
…M/s C&C Constructions Limited was incorporated to undertake construction contracts. ICICI Bank Limited filed an application under Section 7 of the Code for initiation of CIRP. The application was admitted on 14.02.2019. The applicant caused a public announcement on 17.02.2019. Various claims were received from financial and operational creditors. The Committee of Creditors (COC) was constituted. An appeal was filed against the admission of CIRP by Gurjeet Singh Johar (ex-promoter of CD). The NCLAT gave an opportunity to promoters to settle the claims. The stay on the formation of COC was vacated on 30.05.2019. The IRP was appointed as RP on 09.07.2019. Settlement discussions were held between Gurjeet Singh Johar and the lenders. The initial CIRP period of 180 days
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The case involves an application for liquidation of M/s C&C Constructions Limited under Section 33 of the Insolvency and Bankruptcy Code, 2016, due to the expiry of the CIRP period and rejection of the resolution plan. ICICI Bank Limited initiated the CIRP under Section 7 of the Code. The corporate insolvency resolution process (CIRP) was initiated against the Corporate Debtor on 14.02.2019. The applicant, on 17.02.2019, caused a public announcement. An appeal was filed against the admission of CIRP, and settlement proposals were made. The NCLAT gave opportunities for settlement. The Committee of Creditors (COC) was eventually formed, and resolution plans were considered but ultimately rejected. The CIRP period was extended multiple times. An application
…M/s C&C Constructions Limited was incorporated to undertake construction contracts. ICICI Bank Limited filed an application under Section 7 of the Code for initiation of CIRP. The application was admitted on 14.02.2019. The applicant caused a public announcement on 17.02.2019. Various claims were received from financial and operational creditors. The Committee of Creditors (COC) was constituted. An appeal was filed against the admission of CIRP by Gurjeet Singh Johar (ex-promoter of CD). The NCLAT gave an opportunity to promoters to settle the claims. The stay on the formation of COC was vacated on 30.05.2019. The IRP was appointed as RP on 09.07.2019. Settlement discussions were held between Gurjeet Singh Johar and the lenders. The initial CIRP period of 180 days
…Case fil…
CIRP initiated…