The case pertains to an application filed by the Resolution Professional of M/s. SVSVS Projects Pvt Ltd, the Corporate Debtor, under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation due to the non-receipt of a resolution plan. The insolvency petition was initially filed by Bank of Maharashtra under Section 7 of the Code, which was admitted on 26.04.2021. The applicant made a public announcement and received a claim from only one financial creditor, Bank of Maharashtra. The Committee of Creditors (CoC) was constituted with the sole financial creditor, and they resolved to appoint Mr. Kasi Srinivas as the Resolution Professional. The applicant invited Expression of Interest (EOIs) from prospective Resolution Applicants, but the CoC
…Bank of Maharashtra filed an insolvency petition against M/s. SVSVS Projects Pvt Ltd under Section 7 of the IBC, which was admitted on 2021-04-26. Kasi Srinivas was appointed as the Interim Resolution Professional (IRP). A public announcement was made, and Bank of Maharashtra was the sole financial creditor. The CoC appointed Kasi Srinivas as the Resolution Professional. The applicant published Form G and invited EOIs, receiving four prospective resolution applicants. The CoC approved the RFRP, Evaluation Matrix, and Earnest Money Deposit. Veeramachineni Rama Mohan Rao, the promoter of the Corporate Debtor, filed a Writ Petition before the High Court of Telangana, which was later dismissed. The applicant sought exclusion of 403 days from the CIRP period. The CoC
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The insolvency petition filed by Bank of…
The Applicant made a Public Announcement in…
The case pertains to an application filed by the Resolution Professional of M/s. SVSVS Projects Pvt Ltd, the Corporate Debtor, under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation due to the non-receipt of a resolution plan. The insolvency petition was initially filed by Bank of Maharashtra under Section 7 of the Code, which was admitted on 26.04.2021. The applicant made a public announcement and received a claim from only one financial creditor, Bank of Maharashtra. The Committee of Creditors (CoC) was constituted with the sole financial creditor, and they resolved to appoint Mr. Kasi Srinivas as the Resolution Professional. The applicant invited Expression of Interest (EOIs) from prospective Resolution Applicants, but the CoC
…Bank of Maharashtra filed an insolvency petition against M/s. SVSVS Projects Pvt Ltd under Section 7 of the IBC, which was admitted on 2021-04-26. Kasi Srinivas was appointed as the Interim Resolution Professional (IRP). A public announcement was made, and Bank of Maharashtra was the sole financial creditor. The CoC appointed Kasi Srinivas as the Resolution Professional. The applicant published Form G and invited EOIs, receiving four prospective resolution applicants. The CoC approved the RFRP, Evaluation Matrix, and Earnest Money Deposit. Veeramachineni Rama Mohan Rao, the promoter of the Corporate Debtor, filed a Writ Petition before the High Court of Telangana, which was later dismissed. The applicant sought exclusion of 403 days from the CIRP period. The CoC
…The insolvency petition filed by Bank of…
The Applicant made a Public Announcement in…