The case pertains to an application filed by the Liquidator of Transstroy Tirupati Tiruthani Chennai Tollways Private Limited, seeking dissolution of the Corporate Debtor (CD) under Section 54(1) of the Insolvency & Bankruptcy Code, 2016. The CD 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 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 Tirupati Tiruthani Chennai Tollways Private Limited (CD) 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). 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 key terms, leading to an impasse. The CoC approached for cancellation of the approved Resolution Plan, and a liquidation application was allowed on 08.04.2022, appointing the Applicant as Liquidator. The Liquidator made public announcements and formed a Stakeholders
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Transstroy Tirupati Tiruthani Chennai…
Mr. Madhusudan Rao was…
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The case pertains to an application filed by the Liquidator of Transstroy Tirupati Tiruthani Chennai Tollways Private Limited, seeking dissolution of the Corporate Debtor (CD) under Section 54(1) of the Insolvency & Bankruptcy Code, 2016. The CD 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 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 Tirupati Tiruthani Chennai Tollways Private Limited (CD) 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). 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 key terms, leading to an impasse. The CoC approached for cancellation of the approved Resolution Plan, and a liquidation application was allowed on 08.04.2022, appointing the Applicant as Liquidator. The Liquidator made public announcements and formed a Stakeholders
…Transstroy Tirupati Tiruthani Chennai…
Mr. Madhusudan Rao was…
Sign in to view related legal provisions.