The case involves an application (I.A. 2556/2023) filed by Star Blue Jewels Pvt. Ltd. in a corporate insolvency resolution process (CIRP) initiated against Sanghavi Exports International Private Limited. The CIRP was initiated on 2019-02-19. After the failure of the resolution process, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2019-11-13, and a liquidation order was passed on 2020-12-15. The applicant, Star Blue Jewels, participated in an e-auction for the sale of Lot-1 (asset) of the Corporate Debtor, was declared the successful bidder, and deposited an Earnest Money Deposit (EMD) of Rs. 45,00,000. The applicant requested an extension of time to pay the balance consideration, which was refused by the Liquidator. The Liquidator then
…On 2019-02-19, Corporate Insolvency Resolution Process (CIRP) was initiated against Sanghavi Exports International Private Limited. After the failure of the resolution process, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2019-11-13, and a liquidation order was passed on 2020-12-15. Mr. Shailesh Bhalchandra Desai was appointed as the Liquidator. The Liquidator issued an auction notice on 2022-04-25 for the sale of Lot-1 (asset) of the Corporate Debtor. Star Blue Jewels Pvt. Ltd. participated in the e-auction and was declared the successful bidder at the reserve price of Rs. 4,50,00,000. The Liquidator shared the E-Auction Process Information Document with the Applicant on 2022-07-29. The applicant deposited an Earnest Money Deposit
…Sign in to view the parties.
Corporate Insolvency Resolution Process…
Committee of Creditors…
The case involves an application (I.A. 2556/2023) filed by Star Blue Jewels Pvt. Ltd. in a corporate insolvency resolution process (CIRP) initiated against Sanghavi Exports International Private Limited. The CIRP was initiated on 2019-02-19. After the failure of the resolution process, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2019-11-13, and a liquidation order was passed on 2020-12-15. The applicant, Star Blue Jewels, participated in an e-auction for the sale of Lot-1 (asset) of the Corporate Debtor, was declared the successful bidder, and deposited an Earnest Money Deposit (EMD) of Rs. 45,00,000. The applicant requested an extension of time to pay the balance consideration, which was refused by the Liquidator. The Liquidator then
…On 2019-02-19, Corporate Insolvency Resolution Process (CIRP) was initiated against Sanghavi Exports International Private Limited. After the failure of the resolution process, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2019-11-13, and a liquidation order was passed on 2020-12-15. Mr. Shailesh Bhalchandra Desai was appointed as the Liquidator. The Liquidator issued an auction notice on 2022-04-25 for the sale of Lot-1 (asset) of the Corporate Debtor. Star Blue Jewels Pvt. Ltd. participated in the e-auction and was declared the successful bidder at the reserve price of Rs. 4,50,00,000. The Liquidator shared the E-Auction Process Information Document with the Applicant on 2022-07-29. The applicant deposited an Earnest Money Deposit
…Corporate Insolvency Resolution Process…
Committee of Creditors…