The case involves an application (IA No. 938/2020) filed on behalf of the Resolution Professional under Section 33(1)(a) & 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of NCLT Rules, 2016, seeking liquidation of the corporate debtor, SPG Global Distribution Private Limited. The application under Section 9 of IBC was admitted on 06.12.2016, and a moratorium was declared. Mr. Divyanshu Mishra was appointed as the Interim Resolution Professional. Subsequently, Mr. Vijay Kumar was appointed as Resolution Professional on 21.01.2020. Claims were invited from financial and operational creditors, with a total of Rs.94,85,279.34/- claimed by one financial creditor and Rs.42,957,880/- by two operational creditors. The COC members decided to file
…SPG Global Distribution Private Limited is undergoing Corporate Insolvency Resolution Process (CIRP). An application under Section 9 of IBC was admitted on 06.12.2016, leading to a moratorium. Mr. Divyanshu Mishra was initially appointed as the Interim Resolution Professional, followed by Mr. Vijay Kumar as the Resolution Professional. Claims of Rs.94,85,279.34/- from one financial creditor and Rs.42,957,880/- from two operational creditors were admitted. The COC decided to file a liquidation application. Ex-Directors of the Corporate Debtor stated that Mr. Ramesh Singh Rawat was in possession of the first floor of the property from 31.05.2018 against an agreement for sale dated 31.03.2018, leading to a dispute and a criminal case. A one-time settlement (OTS) proposal
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The application under…
Mr. Vijay Kumar was…
The case involves an application (IA No. 938/2020) filed on behalf of the Resolution Professional under Section 33(1)(a) & 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of NCLT Rules, 2016, seeking liquidation of the corporate debtor, SPG Global Distribution Private Limited. The application under Section 9 of IBC was admitted on 06.12.2016, and a moratorium was declared. Mr. Divyanshu Mishra was appointed as the Interim Resolution Professional. Subsequently, Mr. Vijay Kumar was appointed as Resolution Professional on 21.01.2020. Claims were invited from financial and operational creditors, with a total of Rs.94,85,279.34/- claimed by one financial creditor and Rs.42,957,880/- by two operational creditors. The COC members decided to file
…SPG Global Distribution Private Limited is undergoing Corporate Insolvency Resolution Process (CIRP). An application under Section 9 of IBC was admitted on 06.12.2016, leading to a moratorium. Mr. Divyanshu Mishra was initially appointed as the Interim Resolution Professional, followed by Mr. Vijay Kumar as the Resolution Professional. Claims of Rs.94,85,279.34/- from one financial creditor and Rs.42,957,880/- from two operational creditors were admitted. The COC decided to file a liquidation application. Ex-Directors of the Corporate Debtor stated that Mr. Ramesh Singh Rawat was in possession of the first floor of the property from 31.05.2018 against an agreement for sale dated 31.03.2018, leading to a dispute and a criminal case. A one-time settlement (OTS) proposal
…The application under…
Mr. Vijay Kumar was…