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, admitted the petition under Section 7 of the IBC, initiating the Corporate Insolvency Resolution Process (CIRP) 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) after the NCLT admitted a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Krishna Mohan Gollamudi was appointed as the Interim Resolution Professional (IRP). Public announcements were made, and a Committee of Creditors (CoC) was constituted. Several CoC meetings were held to discuss CIRP expenses, security personnel, and eligibility criteria for resolution applicants. Multiple attempts were made to invite Expression of Interest (EoI) from prospective resolution applicants, including modifications to eligibility criteria and reduction of EMD and Performance Guarantee amounts. Despite these efforts, no viable resolution plan
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NCLT, Amaravati admitted the Petition i.e., CP…
The Interim Re…
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, admitted the petition under Section 7 of the IBC, initiating the Corporate Insolvency Resolution Process (CIRP) 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) after the NCLT admitted a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Krishna Mohan Gollamudi was appointed as the Interim Resolution Professional (IRP). Public announcements were made, and a Committee of Creditors (CoC) was constituted. Several CoC meetings were held to discuss CIRP expenses, security personnel, and eligibility criteria for resolution applicants. Multiple attempts were made to invite Expression of Interest (EoI) from prospective resolution applicants, including modifications to eligibility criteria and reduction of EMD and Performance Guarantee amounts. Despite these efforts, no viable resolution plan
…NCLT, Amaravati admitted the Petition i.e., CP…
The Interim Re…