ASK Investment Managers Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Real Value Promoters Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed an outstanding amount of Rs. 229,04,09,761/-.
ASK Investment Managers Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Real Value Promoters Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed an outstanding amount of Rs. 229,04,09,761/-. Prior to this application, another Operational Creditor had already initiated CIRP against the same Corporate Debtor under Section 9 of the IBC, which was admitted by the Tribunal, and an Interim Resolution Professional (IRP), Mr. Mahalingam Suresh Kumar, had been appointed. The order for the Section 9 application was dated 2023-05-10.
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Order pronounced on May 10th, 2023, directing…
ASK Investment Managers Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Real Value Promoters Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed an outstanding amount of Rs. 229,04,09,761/-.
ASK Investment Managers Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Real Value Promoters Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed an outstanding amount of Rs. 229,04,09,761/-. Prior to this application, another Operational Creditor had already initiated CIRP against the same Corporate Debtor under Section 9 of the IBC, which was admitted by the Tribunal, and an Interim Resolution Professional (IRP), Mr. Mahalingam Suresh Kumar, had been appointed. The order for the Section 9 application was dated 2023-05-10.
Order pronounced on May 10th, 2023, directing…