The case involves the Corporate Insolvency Resolution Process (CIRP) of M/s. Shubhkamna Buildtech Private Limited, initiated by M/s. Concord Infrastructure Private Limited (Operational Creditor). The resolution plan submitted by Mr. Surender Kumar Singhal and Mr. Sunil Kumar Agarwal was approved by the Committee of Creditors (CoC). Several objections were raised by dissenting homebuyers, financial creditors, and authorities like NOIDA and GNIDA regarding the resolution plan. The objections primarily concerned the fairness and compliance of the resolution plan with the Insolvency and Bankruptcy Code, 2016 (IBC).
M/s. Shubhkamna Buildtech Private Limited ('Corporate Debtor') faced Corporate Insolvency Resolution Process (CIRP) initiated by M/s. Concord Infrastructure Private Limited ('Operational Creditor'). The Corporate Debtor was engaged in real estate construction and development, developing projects on a plot of land in Sector 137, Noida. The Corporate Debtor entered into purchase agreements for flats/commercial areas in two projects: Shubhkamna Advert Techomes and Shubhkamna City. A resolution plan was submitted by Mr. Surender Kumar Singhal and Mr. Sunil Kumar Agarwal ('Successful Resolution Applicant') and approved by the Committee of Creditors ('CoC') with 87.60% voting share. Several objections were raised by dissenting homebuyers, financial creditors (like Merina
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Corporate Insolvency Resolution Process…
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The case involves the Corporate Insolvency Resolution Process (CIRP) of M/s. Shubhkamna Buildtech Private Limited, initiated by M/s. Concord Infrastructure Private Limited (Operational Creditor). The resolution plan submitted by Mr. Surender Kumar Singhal and Mr. Sunil Kumar Agarwal was approved by the Committee of Creditors (CoC). Several objections were raised by dissenting homebuyers, financial creditors, and authorities like NOIDA and GNIDA regarding the resolution plan. The objections primarily concerned the fairness and compliance of the resolution plan with the Insolvency and Bankruptcy Code, 2016 (IBC).
M/s. Shubhkamna Buildtech Private Limited ('Corporate Debtor') faced Corporate Insolvency Resolution Process (CIRP) initiated by M/s. Concord Infrastructure Private Limited ('Operational Creditor'). The Corporate Debtor was engaged in real estate construction and development, developing projects on a plot of land in Sector 137, Noida. The Corporate Debtor entered into purchase agreements for flats/commercial areas in two projects: Shubhkamna Advert Techomes and Shubhkamna City. A resolution plan was submitted by Mr. Surender Kumar Singhal and Mr. Sunil Kumar Agarwal ('Successful Resolution Applicant') and approved by the Committee of Creditors ('CoC') with 87.60% voting share. Several objections were raised by dissenting homebuyers, financial creditors (like Merina
…Corporate Insolvency Resolution Process…
Public announcement…