The Resolution Professional of PVK Engineers Private Limited/Corporate Debtor filed an application under Section 33(1)(a) r/w Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. The Adjudicating Authority admitted the Company Petition filed by Abhirama Steels Limited against PVK Engineers Private Limited and initiated CIRP. The Applicant issued Form-G for Expression of Interest but received no bids. The COC decided to liquidate the Corporate Debtor with 100% voting as per Section 33(1)(a) of the Code.
Abhirama Steels Limited initiated Corporate Insolvency Resolution Process (CIRP) against PVK Engineers Private Limited by filing CP(IB) No. 106/7/HDB/2021. The Adjudicating Authority admitted the petition on 29.10.2021 and appointed Mrs. Mummaneni Vazra Laxmi as the Interim Resolution Professional (IRP). The IRP was later confirmed as the Resolution Professional (RP). The RP issued Form-G on 28.01.2022 for Expression of Interest (EOI) but received no bids. The COC in its 4th meeting held on 14.04.2022 noted the lack of response to EOIs and the absence of valuable assets, leading to the decision to liquidate the Corporate Debtor with 100% voting as per Section 33(1)(a) of the Code. The COC passed resolutions as per Regulations 39B, 39C & 39D of IBBI (Insolvency
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The Adjudicating Authority admitted the…
Mrs. Mummaneni Vazra Laxmi was confirmed as…
The Resolution Professional of PVK Engineers Private Limited/Corporate Debtor filed an application under Section 33(1)(a) r/w Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. The Adjudicating Authority admitted the Company Petition filed by Abhirama Steels Limited against PVK Engineers Private Limited and initiated CIRP. The Applicant issued Form-G for Expression of Interest but received no bids. The COC decided to liquidate the Corporate Debtor with 100% voting as per Section 33(1)(a) of the Code.
Abhirama Steels Limited initiated Corporate Insolvency Resolution Process (CIRP) against PVK Engineers Private Limited by filing CP(IB) No. 106/7/HDB/2021. The Adjudicating Authority admitted the petition on 29.10.2021 and appointed Mrs. Mummaneni Vazra Laxmi as the Interim Resolution Professional (IRP). The IRP was later confirmed as the Resolution Professional (RP). The RP issued Form-G on 28.01.2022 for Expression of Interest (EOI) but received no bids. The COC in its 4th meeting held on 14.04.2022 noted the lack of response to EOIs and the absence of valuable assets, leading to the decision to liquidate the Corporate Debtor with 100% voting as per Section 33(1)(a) of the Code. The COC passed resolutions as per Regulations 39B, 39C & 39D of IBBI (Insolvency
…The Adjudicating Authority admitted the…
Mrs. Mummaneni Vazra Laxmi was confirmed as…