The application was filed under Section 30(6) read with Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, on behalf of Mr. Pankaj Narang, the Resolution Professional of M/s. K V Developers Private Limited, seeking approval of the Resolution Plan submitted by the consortium of M/s Brijkishor Trading Private Limited and Mr. Sumit Kumar Khanna, which was approved by the Committee of Creditors with a 100% majority. The Corporate Insolvency Resolution Process was initiated against K V Developers Private Limited by the NCLT on 28.10.2020, following a petition under Section 7 of the Code filed by LIC Housing Finance
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. K V Developers Private Limited ('Corporate Debtor') by Hon'ble NCLT on 28.10.2020, following a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by M/s. LIC Housing Finance Limited ('Financial Creditor'). Mr. Pankaj Narang was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. The Corporate Debtor is engaged in real estate activities, including the development and sale of land and cemetery lots, and operates apartment hotels and residential/mobile home sites. The Corporate Debtor has a real estate project named KVD Wind Park in Greater Noida, comprising 924 residential units in 7 towers and 44 commercial shops,
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Hon'ble NCLT initiated the Corporate…
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The application was filed under Section 30(6) read with Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, on behalf of Mr. Pankaj Narang, the Resolution Professional of M/s. K V Developers Private Limited, seeking approval of the Resolution Plan submitted by the consortium of M/s Brijkishor Trading Private Limited and Mr. Sumit Kumar Khanna, which was approved by the Committee of Creditors with a 100% majority. The Corporate Insolvency Resolution Process was initiated against K V Developers Private Limited by the NCLT on 28.10.2020, following a petition under Section 7 of the Code filed by LIC Housing Finance
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. K V Developers Private Limited ('Corporate Debtor') by Hon'ble NCLT on 28.10.2020, following a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by M/s. LIC Housing Finance Limited ('Financial Creditor'). Mr. Pankaj Narang was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. The Corporate Debtor is engaged in real estate activities, including the development and sale of land and cemetery lots, and operates apartment hotels and residential/mobile home sites. The Corporate Debtor has a real estate project named KVD Wind Park in Greater Noida, comprising 924 residential units in 7 towers and 44 commercial shops,
…Hon'ble NCLT initiated the Corporate…
Public announcement in…