The case involves the Corporate Insolvency Resolution Process (CIRP) against M/s. Shubhkamna Buildtech Private Limited, initiated by M/s. Concord Infrastructure Private Limited, an 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's fairness, liquidation value, and treatment of dues.
M/s. Concord Infrastructure Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Shubhkamna Buildtech Private Limited ('Corporate Debtor'). The Corporate Debtor is engaged in real estate construction and development, developing projects on a plot of land in Sector 137, Noida, and Sector-01 Greater Noida. The Corporate Debtor entered into purchase agreements for flats/commercial areas in two projects: Shubhkamna Advert Techomes and Shubhkamna City. The Committee of Creditors (CoC) was formed, with homebuyers/allottees holding 87.6% of the voting share. Mr. Anand Sonbhadra was appointed as the Resolution Professional (RP). The RP issued an Expression of Interest, and three prospective resolution applicants came forward. The resolution
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Corporate Insolvency Resolution Process…
Resolution plan…
The case involves the Corporate Insolvency Resolution Process (CIRP) against M/s. Shubhkamna Buildtech Private Limited, initiated by M/s. Concord Infrastructure Private Limited, an 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's fairness, liquidation value, and treatment of dues.
M/s. Concord Infrastructure Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Shubhkamna Buildtech Private Limited ('Corporate Debtor'). The Corporate Debtor is engaged in real estate construction and development, developing projects on a plot of land in Sector 137, Noida, and Sector-01 Greater Noida. The Corporate Debtor entered into purchase agreements for flats/commercial areas in two projects: Shubhkamna Advert Techomes and Shubhkamna City. The Committee of Creditors (CoC) was formed, with homebuyers/allottees holding 87.6% of the voting share. Mr. Anand Sonbhadra was appointed as the Resolution Professional (RP). The RP issued an Expression of Interest, and three prospective resolution applicants came forward. The resolution
…Corporate Insolvency Resolution Process…
Resolution plan…