The case involves an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The applicant, Howen International Fund SPC, sought the issuance of a sale certificate concerning the Corporate Debtor, Gontermann Peipers (India) Limited, which was undergoing liquidation. The CIRP was initiated on 2019-12-11. The applicant had participated in an e-auction and was declared the successful bidder. The applicant requested reliefs and concessions to run the Corporate Debtor as a going concern.
1. Corporate Insolvency Resolution Process (CIRP) for Gontermann Peipers (India) Limited was initiated on 2019-12-11.
2. On 2021-04-30, a liquidation order was passed, and Raj Singhania was appointed as the Liquidator.
3. The Liquidator published an e-Auction Notice on 2022-10-14 for the sale of the Corporate Debtor's assets.
4. Howen International Fund SPC submitted an application to participate in the e-auction with an EMD of Rs. 34.35 Crores and qualified as an Eligible Bidder.
5. Snaefell was initially the successful bidder, but the auction was cancelled due to irregularities.
6. Civil Appeals 7794-7795 of 2022 were filed before the Apex Court, which allowed a fresh auction process but stayed the confirmation.
7. A fresh e-auction was conducted on 2022-11-11, fetching
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Corporate Insolvency Resolution Process…
Liquidation order was…
The case involves an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The applicant, Howen International Fund SPC, sought the issuance of a sale certificate concerning the Corporate Debtor, Gontermann Peipers (India) Limited, which was undergoing liquidation. The CIRP was initiated on 2019-12-11. The applicant had participated in an e-auction and was declared the successful bidder. The applicant requested reliefs and concessions to run the Corporate Debtor as a going concern.
1. Corporate Insolvency Resolution Process (CIRP) for Gontermann Peipers (India) Limited was initiated on 2019-12-11.
2. On 2021-04-30, a liquidation order was passed, and Raj Singhania was appointed as the Liquidator.
3. The Liquidator published an e-Auction Notice on 2022-10-14 for the sale of the Corporate Debtor's assets.
4. Howen International Fund SPC submitted an application to participate in the e-auction with an EMD of Rs. 34.35 Crores and qualified as an Eligible Bidder.
5. Snaefell was initially the successful bidder, but the auction was cancelled due to irregularities.
6. Civil Appeals 7794-7795 of 2022 were filed before the Apex Court, which allowed a fresh auction process but stayed the confirmation.
7. A fresh e-auction was conducted on 2022-11-11, fetching
Corporate Insolvency Resolution Process…
Liquidation order was…