The case involves an application filed by K Parameswaran Nair, the Resolution Professional (RP) of the Corporate Debtor, Samson and Sons Builders and Developers Private Limited, seeking the exclusion of a period of 139 days from the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated against the Corporate Debtor based on an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Vijayakumaran J. The initial Interim Resolution Professional (IRP), Mr. Muhammed Davood Cmk, expressed his inability to continue due to health reasons and was replaced by Mr. Lukose Joseph. Subsequently, the Committee of Creditors (CoC) proposed Mr. K. Parameswaran Nair as the RP, and the Tribunal appointed him. The application for exclusion of time
…Vijayakumaran J initiated CIRP against Samson and Sons Builders and Developers Private Limited under Section 9 of the IBC. Muhammed Davood Cmk was initially appointed as IRP but resigned due to health issues. Lukose Joseph replaced him as IRP. The CoC then proposed K. Parameswaran Nair as RP, who was appointed by the Tribunal. The IRP made a public announcement inviting claims on 15.11.2021. The first CoC meeting was convened on 23.12.2021. The CoC approved the resolution to seek exclusion of 139 days from the CIRP timeline. The RP took over charge after the 140th day of CIRP and found that several procedures were pending or not carried out. These included verification of claims, appointment of registered valuers, and preparation of the Information Memorandum. The CoC
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Tribunal admitted the application filed under…
Mr. Muhammed Davood Cmk informed the Registry…
The case involves an application filed by K Parameswaran Nair, the Resolution Professional (RP) of the Corporate Debtor, Samson and Sons Builders and Developers Private Limited, seeking the exclusion of a period of 139 days from the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated against the Corporate Debtor based on an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Vijayakumaran J. The initial Interim Resolution Professional (IRP), Mr. Muhammed Davood Cmk, expressed his inability to continue due to health reasons and was replaced by Mr. Lukose Joseph. Subsequently, the Committee of Creditors (CoC) proposed Mr. K. Parameswaran Nair as the RP, and the Tribunal appointed him. The application for exclusion of time
…Vijayakumaran J initiated CIRP against Samson and Sons Builders and Developers Private Limited under Section 9 of the IBC. Muhammed Davood Cmk was initially appointed as IRP but resigned due to health issues. Lukose Joseph replaced him as IRP. The CoC then proposed K. Parameswaran Nair as RP, who was appointed by the Tribunal. The IRP made a public announcement inviting claims on 15.11.2021. The first CoC meeting was convened on 23.12.2021. The CoC approved the resolution to seek exclusion of 139 days from the CIRP timeline. The RP took over charge after the 140th day of CIRP and found that several procedures were pending or not carried out. These included verification of claims, appointment of registered valuers, and preparation of the Information Memorandum. The CoC
…Tribunal admitted the application filed under…
Mr. Muhammed Davood Cmk informed the Registry…