The case involves an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, HPT Constructions Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed by the Financial Creditor, M/s Kaliber Associates Pvt. Ltd., under Section 7 of the Insolvency and Bankruptcy Code, 2016. The RP, Mr. Rajiv Bajaj, was appointed and later confirmed. The Committee of Creditors (CoC) approved the liquidation proposal with a 100% voting share.
M/s Kaliber Associates Pvt. Ltd., acting as the Financial Creditor, initiated proceedings against HPT Constructions Pvt. Ltd., the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority ordered the commencement of the Corporate Insolvency Resolution Process (CIRP) on 2022-04-01 and appointed Mr. Rajiv Bajaj as the Interim Resolution Professional (IRP), who was later confirmed as the RP. The RP filed an application seeking liquidation of the Corporate Debtor, citing its defunct status, lack of a business model, absence of employees, non-participation of the suspended board of directors in the CIRP, and the absence of tangible assets or a resolution plan. The Committee of Creditors (CoC) approved the liquidation
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The case involves an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, HPT Constructions Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed by the Financial Creditor, M/s Kaliber Associates Pvt. Ltd., under Section 7 of the Insolvency and Bankruptcy Code, 2016. The RP, Mr. Rajiv Bajaj, was appointed and later confirmed. The Committee of Creditors (CoC) approved the liquidation proposal with a 100% voting share.
M/s Kaliber Associates Pvt. Ltd., acting as the Financial Creditor, initiated proceedings against HPT Constructions Pvt. Ltd., the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority ordered the commencement of the Corporate Insolvency Resolution Process (CIRP) on 2022-04-01 and appointed Mr. Rajiv Bajaj as the Interim Resolution Professional (IRP), who was later confirmed as the RP. The RP filed an application seeking liquidation of the Corporate Debtor, citing its defunct status, lack of a business model, absence of employees, non-participation of the suspended board of directors in the CIRP, and the absence of tangible assets or a resolution plan. The Committee of Creditors (CoC) approved the liquidation
…The Adjudicating Authority directed the…
The Committee of…