The case involves an application filed by the Resolution Professional (RP) under Sections 33(1)(a) and 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking orders for the liquidation of the Corporate Debtor, M/s. Sree Naidu Beverages Private Limited, and the appointment of Mr. Krishna Mohan Gollamudi as the Liquidator. The NCLT, Amaravati, had previously admitted a petition under Section 7 of the IBC, initiating the Corporate Insolvency Resolution Process (CIRP) for the Corporate Debtor and appointing Mr. Gollamudi as the Interim Resolution Professional (IRP).
The Corporate Debtor, M/s. Sree Naidu Beverages Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT, Amaravati. Mr. Krishna Mohan Gollamudi was appointed as the Interim Resolution Professional (IRP). Public announcement was made, and a Committee of Creditors (CoC) was constituted. Multiple attempts were made to invite Resolution Plans, including modifying eligibility criteria and extending deadlines. However, no viable Resolution Plan was received. The suspended director failed to provide the books of accounts. The CoC ultimately resolved with 100% voting share to recommend liquidation. The plant is located in a leased land. The Resolution Professional got the factory shed/building, plant & machinery and securities and
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Case Num…
NCLT, Amaravati admitted the Petition i.e., CP…
The case involves an application filed by the Resolution Professional (RP) under Sections 33(1)(a) and 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking orders for the liquidation of the Corporate Debtor, M/s. Sree Naidu Beverages Private Limited, and the appointment of Mr. Krishna Mohan Gollamudi as the Liquidator. The NCLT, Amaravati, had previously admitted a petition under Section 7 of the IBC, initiating the Corporate Insolvency Resolution Process (CIRP) for the Corporate Debtor and appointing Mr. Gollamudi as the Interim Resolution Professional (IRP).
The Corporate Debtor, M/s. Sree Naidu Beverages Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT, Amaravati. Mr. Krishna Mohan Gollamudi was appointed as the Interim Resolution Professional (IRP). Public announcement was made, and a Committee of Creditors (CoC) was constituted. Multiple attempts were made to invite Resolution Plans, including modifying eligibility criteria and extending deadlines. However, no viable Resolution Plan was received. The suspended director failed to provide the books of accounts. The CoC ultimately resolved with 100% voting share to recommend liquidation. The plant is located in a leased land. The Resolution Professional got the factory shed/building, plant & machinery and securities and
…Case Num…
NCLT, Amaravati admitted the Petition i.e., CP…