The case pertains to an application filed by the Liquidator of the Corporate Debtor, Transstroy Tirupati Tiruthani Chennai Tollways Private Limited, under Section 54(1) of the Insolvency & Bankruptcy Code, 2016, seeking dissolution of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 03.06.2019. A resolution plan approved on 05.03.2021 was not implemented, leading to the Committee of Creditors (CoC) approaching for cancellation of the plan and filing a liquidation application, which was allowed on 08.04.2022, appointing the Applicant as Liquidator.
Transstroy Tiruthani Chennai Tollways Pvt Ltd (the Corporate Debtor) was admitted into CIRP on 03.06.2019. Mr. Madhusudan Rao was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sanjay Kumar Mishra as the Resolution Professional (RP) on 02.08.2019. A resolution plan approved on 05.03.2021 by the Tribunal was not implemented by the Resolution Applicant, International Asset Reconstruction Company (IARC). The National Highways Authority of India (NHAI) disapproved of modifications to the key terms and entering into a supplementary agreement with IARC. Consequently, the CoC approached for cancellation of the approved Resolution Plan, leading to a liquidation application being allowed on 08.04.2022, appointing the Applicant as Liquidator. The
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The Corporate Debtor was admitted into…
Mr Sanjay Kumar Mishra was confirmed as…
The case pertains to an application filed by the Liquidator of the Corporate Debtor, Transstroy Tirupati Tiruthani Chennai Tollways Private Limited, under Section 54(1) of the Insolvency & Bankruptcy Code, 2016, seeking dissolution of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 03.06.2019. A resolution plan approved on 05.03.2021 was not implemented, leading to the Committee of Creditors (CoC) approaching for cancellation of the plan and filing a liquidation application, which was allowed on 08.04.2022, appointing the Applicant as Liquidator.
Transstroy Tiruthani Chennai Tollways Pvt Ltd (the Corporate Debtor) was admitted into CIRP on 03.06.2019. Mr. Madhusudan Rao was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sanjay Kumar Mishra as the Resolution Professional (RP) on 02.08.2019. A resolution plan approved on 05.03.2021 by the Tribunal was not implemented by the Resolution Applicant, International Asset Reconstruction Company (IARC). The National Highways Authority of India (NHAI) disapproved of modifications to the key terms and entering into a supplementary agreement with IARC. Consequently, the CoC approached for cancellation of the approved Resolution Plan, leading to a liquidation application being allowed on 08.04.2022, appointing the Applicant as Liquidator. The
…The Corporate Debtor was admitted into…
Mr Sanjay Kumar Mishra was confirmed as…