The case pertains to an application filed by the Resolution Professional (RP) under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, and Rule 11 of NCLT Rules, 2016, seeking orders for the liquidation of the Corporate Debtor, M/s. Guntur Multi Packaging Industries Private Limited, and for the appointment of Mr. Siva Sai Hari Bhaskar Neti as the Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 9 of the IBC. The Interim Resolution Professional (IRP) was appointed and a public announcement was made to invite claims from creditors.
The Resolution Professional filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking orders for the liquidation of M/s. Guntur Multi Packaging Industries Private Limited. The NCLT, Amaravati, had previously admitted a petition under Section 9 of the IBC, initiating CIRP. An Interim Resolution Professional (IRP), Mr. Siva Sai Hari Bhaskar Neti, was appointed. A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of a sole financial creditor. The CoC approved the liquidation of the Corporate Debtor with 100% voting. No viable proposal for the revival of the company was received during the CIRP. The applicant prayed to be appointed as Liquidator.
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The NCLT, Amaravati admitted the petition…
The Interim Resolution Professional issued a…
The case pertains to an application filed by the Resolution Professional (RP) under Section 33(1)(a) of the Insolvency and Bankruptcy Code (IBC), 2016, and Rule 11 of NCLT Rules, 2016, seeking orders for the liquidation of the Corporate Debtor, M/s. Guntur Multi Packaging Industries Private Limited, and for the appointment of Mr. Siva Sai Hari Bhaskar Neti as the Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 9 of the IBC. The Interim Resolution Professional (IRP) was appointed and a public announcement was made to invite claims from creditors.
The Resolution Professional filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking orders for the liquidation of M/s. Guntur Multi Packaging Industries Private Limited. The NCLT, Amaravati, had previously admitted a petition under Section 9 of the IBC, initiating CIRP. An Interim Resolution Professional (IRP), Mr. Siva Sai Hari Bhaskar Neti, was appointed. A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of a sole financial creditor. The CoC approved the liquidation of the Corporate Debtor with 100% voting. No viable proposal for the revival of the company was received during the CIRP. The applicant prayed to be appointed as Liquidator.
The NCLT, Amaravati admitted the petition…
The Interim Resolution Professional issued a…