M/s GP Petroleum Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s Tirumala Hills Asphalt Private Limited. The Adjudicating Authority admitted the application and initiated CIRP, appointing Mr. Adinarayana Babji Kota as Interim Resolution Professional (IRP). The IRP informed the Suspended Directors about their appointment and requested documents. The CoC appointed the IRP as Resolution Professional (RP). Due to non-cooperation from the Suspended Directors, the RP filed an application under Section 19(2) of IBC. The Statutory Auditor provided Tally data for financial years 2020-21 and 2021-22. The Authority
…M/s GP Petroleum Ltd, the Operational Creditor, initiated CIRP against M/s Tirumala Hills Asphalt Private Limited. The Adjudicating Authority admitted the application and appointed Mr. Adinarayana Babji Kota as IRP. The IRP informed the suspended directors, Mr. Kuragayala Lakshmipathi and Ms. Baineni Dhanasree, about their appointment and requested documents. The CoC appointed the IRP as RP. Due to non-cooperation, the RP filed IA No. 1316 of 2023 under Section 19(2) of IBC. The Statutory Auditor provided Tally data for financial years 2020-21 and 2021-22. The Authority directed the Respondents to provide information, but there was no response. The RP sent email reminders on multiple dates, including 16.09.2023, 03.10.2023, 05.10.2023, and 09.10.2023, outlining
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Adjudicating Authority…
The CoC appointed the…
M/s GP Petroleum Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s Tirumala Hills Asphalt Private Limited. The Adjudicating Authority admitted the application and initiated CIRP, appointing Mr. Adinarayana Babji Kota as Interim Resolution Professional (IRP). The IRP informed the Suspended Directors about their appointment and requested documents. The CoC appointed the IRP as Resolution Professional (RP). Due to non-cooperation from the Suspended Directors, the RP filed an application under Section 19(2) of IBC. The Statutory Auditor provided Tally data for financial years 2020-21 and 2021-22. The Authority
…M/s GP Petroleum Ltd, the Operational Creditor, initiated CIRP against M/s Tirumala Hills Asphalt Private Limited. The Adjudicating Authority admitted the application and appointed Mr. Adinarayana Babji Kota as IRP. The IRP informed the suspended directors, Mr. Kuragayala Lakshmipathi and Ms. Baineni Dhanasree, about their appointment and requested documents. The CoC appointed the IRP as RP. Due to non-cooperation, the RP filed IA No. 1316 of 2023 under Section 19(2) of IBC. The Statutory Auditor provided Tally data for financial years 2020-21 and 2021-22. The Authority directed the Respondents to provide information, but there was no response. The RP sent email reminders on multiple dates, including 16.09.2023, 03.10.2023, 05.10.2023, and 09.10.2023, outlining
…Adjudicating Authority…
The CoC appointed the…