The case involves an application filed by the Resolution Professional (RP) of M/s. Gonglu Agro Private Limited under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 30.05.2022. The RP was appointed as the Interim Resolution Professional. Several CoC meetings were held, and resolution plans were considered but ultimately rejected. The CIRP period was extended multiple times. The Corporate Debtor is a subsidiary of M/s. Capricorn Food Products India Limited. An objection was raised regarding land belonging to the Corporate Debtor being utilized by Gonglu Agro Private Limited.
The Corporate Insolvency Resolution Process (CIRP) for M/s. Gonglu Agro Private Limited was initiated on 30.05.2022. Lalit Kumar Dangi was appointed as the Resolution Professional (RP). The RP filed an application seeking liquidation under Section 33(1)(a) of the IBC. Several CoC meetings were held. The first CoC meeting was on 29.06.2022. The 10th CoC meeting was held on 18.01.2023, where the resolution plan submitted by Consortium of Maa Kudargarhi Steels Private Limited and BM Foods was rejected. The 11th meeting was held on 14.02.2023, where a fresh invitation for Expression of Interest was decided. The 180-day CIRP period ended on 26.11.2022, and an extension was sought. The CIRP period was extended till 13.03.2023. The 330-day CIRP period ended on 12.05.2023. The
…Sign in to view the parties.
Corporate Insolvency Resolution Process…
The 1st CoC meeting was held wherein the…
The case involves an application filed by the Resolution Professional (RP) of M/s. Gonglu Agro Private Limited under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 30.05.2022. The RP was appointed as the Interim Resolution Professional. Several CoC meetings were held, and resolution plans were considered but ultimately rejected. The CIRP period was extended multiple times. The Corporate Debtor is a subsidiary of M/s. Capricorn Food Products India Limited. An objection was raised regarding land belonging to the Corporate Debtor being utilized by Gonglu Agro Private Limited.
The Corporate Insolvency Resolution Process (CIRP) for M/s. Gonglu Agro Private Limited was initiated on 30.05.2022. Lalit Kumar Dangi was appointed as the Resolution Professional (RP). The RP filed an application seeking liquidation under Section 33(1)(a) of the IBC. Several CoC meetings were held. The first CoC meeting was on 29.06.2022. The 10th CoC meeting was held on 18.01.2023, where the resolution plan submitted by Consortium of Maa Kudargarhi Steels Private Limited and BM Foods was rejected. The 11th meeting was held on 14.02.2023, where a fresh invitation for Expression of Interest was decided. The 180-day CIRP period ended on 26.11.2022, and an extension was sought. The CIRP period was extended till 13.03.2023. The 330-day CIRP period ended on 12.05.2023. The
…Corporate Insolvency Resolution Process…
The 1st CoC meeting was held wherein the…