The case pertains to IA 136/2022 filed in CP(IB) No. 198/7/HDB/2019 before the National Company Law Tribunal (NCLT), Hyderabad Bench. The application was filed under Section 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code (IBC) seeking orders for the liquidation of the Corporate Debtor, Saikrishnodaya Industries Pvt Ltd, and the appointment of Mr. Arun Kumar Malani as the Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 17.10.2019, and Mr. Arun Kumar Malani was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). Despite efforts to find a resolution plan, none was received, leading to the application for liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Saikrishnodaya Industries Pvt Ltd on 2019-10-17. Arun Kumar Malani was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The IRP called for claims, and only one Financial Creditor submitted a claim. The Committee of Creditors (CoC) was constituted, and meetings were held. The CoC decided to commence the CIRP and call for Expression of Interest (EoI), but no EoI was received. The suspended Directors of the Corporate Debtor proposed to settle the dues if given sufficient time, leading to a request for a 90-day extension. The CoC requested consideration of the COVID lockdown period. The Adjudicating Authority excluded 129 days from the
…Sign in to view the parties.
Corporate Insolvency…
CIRP commenced…
The case pertains to IA 136/2022 filed in CP(IB) No. 198/7/HDB/2019 before the National Company Law Tribunal (NCLT), Hyderabad Bench. The application was filed under Section 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code (IBC) seeking orders for the liquidation of the Corporate Debtor, Saikrishnodaya Industries Pvt Ltd, and the appointment of Mr. Arun Kumar Malani as the Liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 17.10.2019, and Mr. Arun Kumar Malani was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). Despite efforts to find a resolution plan, none was received, leading to the application for liquidation.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Saikrishnodaya Industries Pvt Ltd on 2019-10-17. Arun Kumar Malani was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The IRP called for claims, and only one Financial Creditor submitted a claim. The Committee of Creditors (CoC) was constituted, and meetings were held. The CoC decided to commence the CIRP and call for Expression of Interest (EoI), but no EoI was received. The suspended Directors of the Corporate Debtor proposed to settle the dues if given sufficient time, leading to a request for a 90-day extension. The CoC requested consideration of the COVID lockdown period. The Adjudicating Authority excluded 129 days from the
…Corporate Insolvency…
CIRP commenced…