The case involves an application filed by the Resolution Professional to exclude a period of 45 days from the Corporate Insolvency Resolution Process (CIRP) timeline, due to delays in e-voting. The 16th Committee of Creditors (COC) meeting discussed resolution plans received by the Prospective Resolution Applicants (PRAs). The COC decided to conduct voting for seeking exclusion of 45 days in CIRP and also exclusion of 10 days required for voting on the same. An additional application (I.A. 3491/2023) concerned the release of fixed deposit amounts to the Respondent, but was disposed of as infructuous due to prior release to the Corporate Debtor.
India Asset Growth Fund Through Esssel Finance Advisors & Managers LLP & Anr initiated a CIRP against Rashmi Housing Pvt Ltd under Section 9 of the IBC, 2016. The Resolution Professional filed an application (I.A. 4678/2023) to exclude 45 days from the CIRP timeline due to delays in e-voting. The 16th COC meeting discussed resolution plans from East West Freight Carriers Limited, Consortium of Mr. Anil Khandelwal and Noida Holdings Private Limited, Consortium of Rashmi Housing SPV Limited and Mr. Deepak Bosmiya, and Consortium of Mr. Hemendra Bosmiya with Mr. Yogesh Bosmiya. 960 homebuyers are part of the class of creditors. The COC passed a resolution with 74.49% voting share to extend the CIRP period by 45 days. Another application (I.A. 3491/2023) was filed
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The case involves an application filed by the Resolution Professional to exclude a period of 45 days from the Corporate Insolvency Resolution Process (CIRP) timeline, due to delays in e-voting. The 16th Committee of Creditors (COC) meeting discussed resolution plans received by the Prospective Resolution Applicants (PRAs). The COC decided to conduct voting for seeking exclusion of 45 days in CIRP and also exclusion of 10 days required for voting on the same. An additional application (I.A. 3491/2023) concerned the release of fixed deposit amounts to the Respondent, but was disposed of as infructuous due to prior release to the Corporate Debtor.
India Asset Growth Fund Through Esssel Finance Advisors & Managers LLP & Anr initiated a CIRP against Rashmi Housing Pvt Ltd under Section 9 of the IBC, 2016. The Resolution Professional filed an application (I.A. 4678/2023) to exclude 45 days from the CIRP timeline due to delays in e-voting. The 16th COC meeting discussed resolution plans from East West Freight Carriers Limited, Consortium of Mr. Anil Khandelwal and Noida Holdings Private Limited, Consortium of Rashmi Housing SPV Limited and Mr. Deepak Bosmiya, and Consortium of Mr. Hemendra Bosmiya with Mr. Yogesh Bosmiya. 960 homebuyers are part of the class of creditors. The COC passed a resolution with 74.49% voting share to extend the CIRP period by 45 days. Another application (I.A. 3491/2023) was filed
…An order was issued to…
The 16th COC meeting was…