The case pertains to the dissolution of ECI Infra Towers Company Private Limited, a corporate debtor, under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016. The liquidation process was initiated following an order by the National Company Law Tribunal (NCLT), Hyderabad Bench. Ms. Kalpana G was appointed as the liquidator to oversee the process. The liquidator took steps such as issuing public announcements, verifying claims, filing preliminary reports, and conducting stakeholder consultation meetings. The secured financial creditor, United Bank of India (later assigned to M/s Omkara Asset Reconstruction Private Limited), had a security interest over the corporate debtor's assets but proceeded to sell the assets through SARFAESI proceedings without
…ECI Infra Towers Company Private Limited was undergoing liquidation under the IBC, with Ms. Kalpana G appointed as the liquidator. Bank of India was the financial creditor. The liquidation process involved public announcements, claim verification, and stakeholder meetings. A key asset of the corporate debtor was secured by United Bank of India, later assigned to M/s Omkara Asset Reconstruction Private Limited. The secured creditor proceeded to sell the assets through SARFAESI proceedings without relinquishing the security interest to the liquidation estate, leading to legal challenges. The Tribunal directed the secured creditor to comply with Regulation 21A(2) and pay the CIRP and liquidation expenses, which they eventually did. The liquidation period was extended
…Sign in to view the parties.
Tribunal ordered liquidation of the Corporate…
Liquidator issued public announcement in…
The case pertains to the dissolution of ECI Infra Towers Company Private Limited, a corporate debtor, under Section 54(1) of the Insolvency and Bankruptcy Code (IBC), 2016. The liquidation process was initiated following an order by the National Company Law Tribunal (NCLT), Hyderabad Bench. Ms. Kalpana G was appointed as the liquidator to oversee the process. The liquidator took steps such as issuing public announcements, verifying claims, filing preliminary reports, and conducting stakeholder consultation meetings. The secured financial creditor, United Bank of India (later assigned to M/s Omkara Asset Reconstruction Private Limited), had a security interest over the corporate debtor's assets but proceeded to sell the assets through SARFAESI proceedings without
…ECI Infra Towers Company Private Limited was undergoing liquidation under the IBC, with Ms. Kalpana G appointed as the liquidator. Bank of India was the financial creditor. The liquidation process involved public announcements, claim verification, and stakeholder meetings. A key asset of the corporate debtor was secured by United Bank of India, later assigned to M/s Omkara Asset Reconstruction Private Limited. The secured creditor proceeded to sell the assets through SARFAESI proceedings without relinquishing the security interest to the liquidation estate, leading to legal challenges. The Tribunal directed the secured creditor to comply with Regulation 21A(2) and pay the CIRP and liquidation expenses, which they eventually did. The liquidation period was extended
…Tribunal ordered liquidation of the Corporate…
Liquidator issued public announcement in…