The case involves an application filed under section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Hi Point Investment Finance Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 29.05.2018, following a petition filed by the Financial Creditor, IFCI Limited, under section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Vikram Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). Form G was published to invite resolution plans, but no viable plan was received. An application (IA No. 2281/2021) was filed by Art Construction Private Limited (“ACPL”) seeking to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Hi Point Investment Finance Pvt. Ltd. on 29.05.2018, following a petition by the Financial Creditor, IFCI Limited. Mr. Vikram Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Form G was published to invite resolution plans. An EOI was received from M/s JS Grover Constructions, but the Prospective Resolution Applicant did not comply with the request to provide financial statements and a net worth certificate. The CoC unanimously recommended liquidation on 31.10.2018, as no viable resolution plan was received. The RP expressed an inability to continue the assignment. Art Construction Private Limited (“ACPL”) filed an
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The case involves an application filed under section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Hi Point Investment Finance Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 29.05.2018, following a petition filed by the Financial Creditor, IFCI Limited, under section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Vikram Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). Form G was published to invite resolution plans, but no viable plan was received. An application (IA No. 2281/2021) was filed by Art Construction Private Limited (“ACPL”) seeking to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Hi Point Investment Finance Pvt. Ltd. on 29.05.2018, following a petition by the Financial Creditor, IFCI Limited. Mr. Vikram Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Form G was published to invite resolution plans. An EOI was received from M/s JS Grover Constructions, but the Prospective Resolution Applicant did not comply with the request to provide financial statements and a net worth certificate. The CoC unanimously recommended liquidation on 31.10.2018, as no viable resolution plan was received. The RP expressed an inability to continue the assignment. Art Construction Private Limited (“ACPL”) filed an
…Filing of the C…
Adjudicating Authority…