The case involves the insolvency resolution of Idzire Hospitality Private Limited under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) decided to initiate liquidation of the Corporate Debtor (CD) with a 100% vote share, as the CD was not in operation for the last three years and there was no possibility of revival of business. No resolution plan or expression of interest was received, and the CD had negligible assets. The IRP, Mr. Suman Kumar Verma, was authorized to file a petition before the NCLT Delhi for liquidation. An application was filed by the Ex-IRP Mr. Manoj Kumar Singh praying to release him from the present assignment, in view of the fact that he is under disciplinary proceedings by the IBBI. The NCLT considered various IAs
…The Corporate Debtor, M/s. Idzire Hospitality Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The company was not in operation for the last three years. The Committee of Creditors (CoC) resolved to liquidate the company with a 100% vote share, as there was no possibility of revival and no resolution plan was received. The IRP, Mr. Suman Kumar Verma, was authorized to file a petition for liquidation. Mr. Manoj Kumar Singh, the Ex-IRP, filed an application to be released from his assignment due to disciplinary proceedings by the IBBI. The CoC passed a resolution dated 30.01.2023, and the report regarding the appointment of IRP as RP was taken on record. The CoC passed a
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Period from 28.07.2021 to 07.12.2022, during…
Order dated 07.12.2022 passed in IA-3727/2021,…
The case involves the insolvency resolution of Idzire Hospitality Private Limited under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) decided to initiate liquidation of the Corporate Debtor (CD) with a 100% vote share, as the CD was not in operation for the last three years and there was no possibility of revival of business. No resolution plan or expression of interest was received, and the CD had negligible assets. The IRP, Mr. Suman Kumar Verma, was authorized to file a petition before the NCLT Delhi for liquidation. An application was filed by the Ex-IRP Mr. Manoj Kumar Singh praying to release him from the present assignment, in view of the fact that he is under disciplinary proceedings by the IBBI. The NCLT considered various IAs
…The Corporate Debtor, M/s. Idzire Hospitality Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The company was not in operation for the last three years. The Committee of Creditors (CoC) resolved to liquidate the company with a 100% vote share, as there was no possibility of revival and no resolution plan was received. The IRP, Mr. Suman Kumar Verma, was authorized to file a petition for liquidation. Mr. Manoj Kumar Singh, the Ex-IRP, filed an application to be released from his assignment due to disciplinary proceedings by the IBBI. The CoC passed a resolution dated 30.01.2023, and the report regarding the appointment of IRP as RP was taken on record. The CoC passed a
…Period from 28.07.2021 to 07.12.2022, during…
Order dated 07.12.2022 passed in IA-3727/2021,…