The case pertains to an application filed under Section 54(1) of the Insolvency & Bankruptcy Code, 2016 (IBC) read with Regulation 45(3) of the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016, by the Liquidator of M/s VNR Infra Metals Private Limited, seeking dissolution of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor vide order dated 03.03.2017. A resolution plan submitted by an investor was not approved by the Committee of Creditors (CoC). Subsequently, the Resolution Professional filed an application recommending liquidation of the Corporate Debtor, which was ordered on 22.09.2017. The Liquidator carried out a public announcement, and a claim was received
…M/s VNR Infra Metals Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by an order dated 03.03.2017. An application was filed under Section 54(1) of the IBC, 2016, read with Regulation 45(3) of the Liquidation Process Regulations, seeking dissolution of the Corporate Debtor. A resolution plan submitted by an investor was not approved by the Committee of Creditors (CoC). The Resolution Professional recommended liquidation, which was ordered on 22.09.2017. The Liquidator made a public announcement, and only one secured creditor, Indian Overseas Bank, filed a claim. The Corporate Debtor acted as a Corporate Guarantor and mortgaged its properties for the credit limits of its parent company, M/S VNR Infrastructures Limited, to a consortium
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Tribunal admitted the Company Petition CP (IB)…
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The case pertains to an application filed under Section 54(1) of the Insolvency & Bankruptcy Code, 2016 (IBC) read with Regulation 45(3) of the Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, 2016, by the Liquidator of M/s VNR Infra Metals Private Limited, seeking dissolution of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor vide order dated 03.03.2017. A resolution plan submitted by an investor was not approved by the Committee of Creditors (CoC). Subsequently, the Resolution Professional filed an application recommending liquidation of the Corporate Debtor, which was ordered on 22.09.2017. The Liquidator carried out a public announcement, and a claim was received
…M/s VNR Infra Metals Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by an order dated 03.03.2017. An application was filed under Section 54(1) of the IBC, 2016, read with Regulation 45(3) of the Liquidation Process Regulations, seeking dissolution of the Corporate Debtor. A resolution plan submitted by an investor was not approved by the Committee of Creditors (CoC). The Resolution Professional recommended liquidation, which was ordered on 22.09.2017. The Liquidator made a public announcement, and only one secured creditor, Indian Overseas Bank, filed a claim. The Corporate Debtor acted as a Corporate Guarantor and mortgaged its properties for the credit limits of its parent company, M/S VNR Infrastructures Limited, to a consortium
…Tribunal admitted the Company Petition CP (IB)…
Resolution Plan…
Sign in to view related legal provisions.