The application IA(IBC)/1611(CHE)/2023 was filed in CP(IB)/56(CHE)/2022 under Section 12(2), 12(3) read with 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period for M/s. Cethar Constructions Limited. The CIRP was initiated on 25.11.2022. The Corporate Debtor is a 99.96% subsidiary of M/s. Cethar Limited, which is under liquidation. The Resolution Professional (RP) faced difficulties in obtaining necessary documents and tracing assets of the Corporate Debtor. The initial 270-day CIRP period was expiring on 22.08.2023. The Committee of Creditors (CoC) unanimously resolved to authorize the RP to apply for a 60-day extension, from 23.08.2023 to 21.10.2023, due to the inability to take over
…The Corporate Debtor, M/s. Cethar Constructions Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on 25.11.2022. The Corporate Debtor is a 99.96% subsidiary of M/s. Cethar Limited, which is under liquidation. The Resolution Professional (RP) faced difficulties in obtaining necessary documents and tracing assets of the Corporate Debtor. The address of the Corporate Debtor as mentioned in the MCA portal was inaccurate. The RP visited the premises mentioned by the former MD and Chairman, but the assets had been sold by the liquidator of the holding company. The initial 270-day CIRP period was expiring on 22.08.2023. The Committee of Creditors (CoC) unanimously resolved on 17.08.2023 to authorize the RP to apply for a 60-day extension, from
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Corporate Debtor…
Corporate Debtor availed…
The application IA(IBC)/1611(CHE)/2023 was filed in CP(IB)/56(CHE)/2022 under Section 12(2), 12(3) read with 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking an extension of the Corporate Insolvency Resolution Process (CIRP) period for M/s. Cethar Constructions Limited. The CIRP was initiated on 25.11.2022. The Corporate Debtor is a 99.96% subsidiary of M/s. Cethar Limited, which is under liquidation. The Resolution Professional (RP) faced difficulties in obtaining necessary documents and tracing assets of the Corporate Debtor. The initial 270-day CIRP period was expiring on 22.08.2023. The Committee of Creditors (CoC) unanimously resolved to authorize the RP to apply for a 60-day extension, from 23.08.2023 to 21.10.2023, due to the inability to take over
…The Corporate Debtor, M/s. Cethar Constructions Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on 25.11.2022. The Corporate Debtor is a 99.96% subsidiary of M/s. Cethar Limited, which is under liquidation. The Resolution Professional (RP) faced difficulties in obtaining necessary documents and tracing assets of the Corporate Debtor. The address of the Corporate Debtor as mentioned in the MCA portal was inaccurate. The RP visited the premises mentioned by the former MD and Chairman, but the assets had been sold by the liquidator of the holding company. The initial 270-day CIRP period was expiring on 22.08.2023. The Committee of Creditors (CoC) unanimously resolved on 17.08.2023 to authorize the RP to apply for a 60-day extension, from
…Corporate Debtor…
Corporate Debtor availed…