The application was filed by the Director appointed in M/s Skyhigh Infraland Private Limited, concerning the resolution plan of M/s INR Constructions. Allahabad Bank, a financial creditor, initiated CIRP against Skyhigh Infraland Private Limited. The Adjudicating Authority admitted the CP to CIRP and declared a moratorium. An Interim Resolution Professional was appointed. After initial failures in receiving resolution plans, one plan was received, and later, four plans were submitted. The Resolution Plan of INR Constructions was approved by the Committee of Creditors with 100% voting rights. The Tribunal approved the resolution plan on 06.10.2021.
Allahabad Bank initiated CIRP against Skyhigh Infraland Private Limited under Section 7 of the IBC. The CIRP was admitted on 29.10.2018, and a moratorium was declared. Jalesh Kumar Grover was appointed as the Interim Resolution Professional. The RP published Form G to invite resolution plans, initially without success. Eventually, a resolution plan by INR Constructions was approved by the CoC with 100% voting rights. The Tribunal approved the resolution plan on 06.10.2021. The successful resolution applicant faced difficulties in statutory compliances, particularly with filing Form INC-22A, due to defaults by the previous management. The applicant sought directions to address these issues. The resolution plan implementation was extended to 31.03.2022.
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Allahabad Bank filed CP…
The Adjudicating…
The application was filed by the Director appointed in M/s Skyhigh Infraland Private Limited, concerning the resolution plan of M/s INR Constructions. Allahabad Bank, a financial creditor, initiated CIRP against Skyhigh Infraland Private Limited. The Adjudicating Authority admitted the CP to CIRP and declared a moratorium. An Interim Resolution Professional was appointed. After initial failures in receiving resolution plans, one plan was received, and later, four plans were submitted. The Resolution Plan of INR Constructions was approved by the Committee of Creditors with 100% voting rights. The Tribunal approved the resolution plan on 06.10.2021.
Allahabad Bank initiated CIRP against Skyhigh Infraland Private Limited under Section 7 of the IBC. The CIRP was admitted on 29.10.2018, and a moratorium was declared. Jalesh Kumar Grover was appointed as the Interim Resolution Professional. The RP published Form G to invite resolution plans, initially without success. Eventually, a resolution plan by INR Constructions was approved by the CoC with 100% voting rights. The Tribunal approved the resolution plan on 06.10.2021. The successful resolution applicant faced difficulties in statutory compliances, particularly with filing Form INC-22A, due to defaults by the previous management. The applicant sought directions to address these issues. The resolution plan implementation was extended to 31.03.2022.
Allahabad Bank filed CP…
The Adjudicating…