The case pertains to IA (IBC)/1931/2023 filed in CP (IB) No.23/7/HDB/2018, concerning the liquidation of East Coast Energy Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on April 3, 2018. With no resolution plan received, the Committee of Creditors recommended liquidation, approved on April 22, 2019. The appointed Liquidator attempted to sell the company as a going concern but received no Expressions of Interest (EOI). Subsequently, the Liquidator tried to sell the assets in four lots, successfully selling two. The remaining assets, 'Township' and 'Miscellaneous Assets', remained unsold after multiple auctions. Stakeholders then decided to explore a private sale.
The Corporate Insolvency Resolution Process (CIRP) was initiated against East Coast Energy Private Limited on April 3, 2018. As no resolution plan was received, the Committee of Creditors recommended liquidation, which was approved on April 22, 2019. The appointed Liquidator attempted to sell the company as a going concern but received no Expressions of Interest (EOI). Subsequently, the Liquidator tried to sell the assets in four lots, successfully selling two. The remaining assets, 'Township' and 'Miscellaneous Assets', remained unsold after 14 multiple auctions. The reserve price for the 'Township' and 'Miscellaneous Assets' was reduced to Rs. 18.92 crores and Rs. 0.07 crores, respectively. Stakeholders then decided to explore a private sale. The Liquidator published
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The case pertains to IA (IBC)/1931/2023 filed in CP (IB) No.23/7/HDB/2018, concerning the liquidation of East Coast Energy Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on April 3, 2018. With no resolution plan received, the Committee of Creditors recommended liquidation, approved on April 22, 2019. The appointed Liquidator attempted to sell the company as a going concern but received no Expressions of Interest (EOI). Subsequently, the Liquidator tried to sell the assets in four lots, successfully selling two. The remaining assets, 'Township' and 'Miscellaneous Assets', remained unsold after multiple auctions. Stakeholders then decided to explore a private sale.
The Corporate Insolvency Resolution Process (CIRP) was initiated against East Coast Energy Private Limited on April 3, 2018. As no resolution plan was received, the Committee of Creditors recommended liquidation, which was approved on April 22, 2019. The appointed Liquidator attempted to sell the company as a going concern but received no Expressions of Interest (EOI). Subsequently, the Liquidator tried to sell the assets in four lots, successfully selling two. The remaining assets, 'Township' and 'Miscellaneous Assets', remained unsold after 14 multiple auctions. The reserve price for the 'Township' and 'Miscellaneous Assets' was reduced to Rs. 18.92 crores and Rs. 0.07 crores, respectively. Stakeholders then decided to explore a private sale. The Liquidator published
…Corporate Insolvency Resolution Process (CIRP)…
Committee of Creditors…