The case involves an application (IA-1526/2021) filed by Mr. Gaurav Katiyar, the Resolution Professional (RP) of M/s. Efferent Realestate Private Limited (Corporate Debtor), seeking initiation of liquidation proceedings under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by Ms. Divya Sharma, a Financial Creditor, under Section 7 of the Code. The CIRP period expired, and no resolution plan was received. The sole member of the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor. However, the Financial Creditor later expressed her inability to continue with the liquidation proceedings and pay the CIRP expenses.
Ms. Divya Sharma, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Efferent Realestate Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application on 20.12.2019 and appointed an Interim Resolution Professional (IRP), who was later appointed as the Resolution Professional (RP). The IRP made a public announcement for claims and received one claim from Financial Creditors aggregating Rs. 94 Lakhs. The RP convened three meetings of the Committee of Creditors (CoC). Due to non-cooperation from ex-management, lack of credible financial information, and absence of audited financial statements, the RP could not prepare an information memorandum or
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Adjudicating Authority admitted the application…
The IRP made a public…
The case involves an application (IA-1526/2021) filed by Mr. Gaurav Katiyar, the Resolution Professional (RP) of M/s. Efferent Realestate Private Limited (Corporate Debtor), seeking initiation of liquidation proceedings under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by Ms. Divya Sharma, a Financial Creditor, under Section 7 of the Code. The CIRP period expired, and no resolution plan was received. The sole member of the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor. However, the Financial Creditor later expressed her inability to continue with the liquidation proceedings and pay the CIRP expenses.
Ms. Divya Sharma, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Efferent Realestate Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application on 20.12.2019 and appointed an Interim Resolution Professional (IRP), who was later appointed as the Resolution Professional (RP). The IRP made a public announcement for claims and received one claim from Financial Creditors aggregating Rs. 94 Lakhs. The RP convened three meetings of the Committee of Creditors (CoC). Due to non-cooperation from ex-management, lack of credible financial information, and absence of audited financial statements, the RP could not prepare an information memorandum or
…Adjudicating Authority admitted the application…
The IRP made a public…