The case involves an application filed by the liquidator of ISR Infra Pvt. Ltd. under Section 35 read with Section 52 of the Insolvency and Bankruptcy Code (IBC), 2016. The liquidator sought directions from the NCLT to the respondents to remove metal boards installed by them at the site of the corporate debtor, ISR Infra Pvt. Ltd., which were obstructing the sale of the property. The liquidator also requested police protection if the respondents failed to comply with the removal of the boards. The Corporate Insolvency Resolution Process (CIRP) was initiated against ISR Infra Pvt. Ltd. by CMR Transport Company Pvt. Ltd., an operational creditor, and was admitted by the Tribunal on 09.09.2019. Subsequently, the CoC recommended liquidation of the corporate debtor, and the
…CMR Transport Company Pvt. Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against ISR Infra Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 09.09.2019. Pradeep Kumar Sravanam was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) consisted of a single financial creditor, Indian Overseas Bank. The CoC recommended liquidation after no resolution plan was received and the corporate debtor failed to make a One Time Settlement (OTS) payment. The Tribunal ordered liquidation on 10.05.2021, appointing Pradeep Kumar Sravanam as the liquidator. Sidhartha Civil Works Private Limited, an operational creditor who did not file a
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The case involves an application filed by the liquidator of ISR Infra Pvt. Ltd. under Section 35 read with Section 52 of the Insolvency and Bankruptcy Code (IBC), 2016. The liquidator sought directions from the NCLT to the respondents to remove metal boards installed by them at the site of the corporate debtor, ISR Infra Pvt. Ltd., which were obstructing the sale of the property. The liquidator also requested police protection if the respondents failed to comply with the removal of the boards. The Corporate Insolvency Resolution Process (CIRP) was initiated against ISR Infra Pvt. Ltd. by CMR Transport Company Pvt. Ltd., an operational creditor, and was admitted by the Tribunal on 09.09.2019. Subsequently, the CoC recommended liquidation of the corporate debtor, and the
…CMR Transport Company Pvt. Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against ISR Infra Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 09.09.2019. Pradeep Kumar Sravanam was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) consisted of a single financial creditor, Indian Overseas Bank. The CoC recommended liquidation after no resolution plan was received and the corporate debtor failed to make a One Time Settlement (OTS) payment. The Tribunal ordered liquidation on 10.05.2021, appointing Pradeep Kumar Sravanam as the liquidator. Sidhartha Civil Works Private Limited, an operational creditor who did not file a
…Corporate Insolvency Resolution Process (CIRP)…
Applicant made paper publication inviting…