The case involves an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of Karuturi Ceramics Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2024-04-24. An Interim Resolution Professional (IRP) was appointed, and a public announcement was made inviting claims. The IRP received one claim from the Financial Creditor and constituted a Committee of Creditors (CoC). The CoC confirmed the Applicant as the RP and approved eligibility criteria for Prospective Resolution Applicants (PRAs). Form-G was published, inviting Expressions of Interest (Eol).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Karuturi Ceramics Private Limited on 2024-04-24. Mr. Naga Bhushan Bhagawati was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made, inviting claims from creditors. The IRP received one claim from the State Bank of India. The Committee of Creditors (CoC) was constituted and held several meetings to discuss the resolution process. The CoC approved the eligibility criteria for Prospective Resolution Applicants (PRAs) and published Form-G, inviting Expressions of Interest (Eol). Despite extending the deadline for submission of resolution plans, no plans were received. A forensic audit revealed no avoidance
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The Tribunal admitted the Corporate Debtor into…
The Applicant was…
The case involves an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of Karuturi Ceramics Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2024-04-24. An Interim Resolution Professional (IRP) was appointed, and a public announcement was made inviting claims. The IRP received one claim from the Financial Creditor and constituted a Committee of Creditors (CoC). The CoC confirmed the Applicant as the RP and approved eligibility criteria for Prospective Resolution Applicants (PRAs). Form-G was published, inviting Expressions of Interest (Eol).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Karuturi Ceramics Private Limited on 2024-04-24. Mr. Naga Bhushan Bhagawati was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made, inviting claims from creditors. The IRP received one claim from the State Bank of India. The Committee of Creditors (CoC) was constituted and held several meetings to discuss the resolution process. The CoC approved the eligibility criteria for Prospective Resolution Applicants (PRAs) and published Form-G, inviting Expressions of Interest (Eol). Despite extending the deadline for submission of resolution plans, no plans were received. A forensic audit revealed no avoidance
…The Tribunal admitted the Corporate Debtor into…
The Applicant was…