Meridian Educational Society filed an application challenging the decision of the Liquidator of Butta Infrastructure Private Limited, declaring the applicant ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016 to participate in an auction.
LIC Housing Finance Limited initiated CIRP against Butta Infrastructure Private Limited under Section 7 of IBC.
The applicant, Meridian Educational Society, was declared ineligible to participate in the auction under Section 29A of IBC.
The Liquidator issued an auction notice dated 05.06.2025 for the land and building of the Corporate Debtor.
The Applicant remitted the stipulated EMD on 25.06.2025 and submitted its Expression of Interest (EOI).
The Respondent alleged that the Applicant was ineligible under Section 29A of the Code due to the directors/promoters of the Corporate Debtor exercising significant influence over the Applicant.
The MSME certificate of the Corporate Debtor was obtained on 20.11.2021 after commencement of CIRP.
…Sign in to view the parties.
Corporate Debtor was admitted into CIRP…
This Authority directed liquidation of the…
Meridian Educational Society filed an application challenging the decision of the Liquidator of Butta Infrastructure Private Limited, declaring the applicant ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016 to participate in an auction.
LIC Housing Finance Limited initiated CIRP against Butta Infrastructure Private Limited under Section 7 of IBC.
The applicant, Meridian Educational Society, was declared ineligible to participate in the auction under Section 29A of IBC.
The Liquidator issued an auction notice dated 05.06.2025 for the land and building of the Corporate Debtor.
The Applicant remitted the stipulated EMD on 25.06.2025 and submitted its Expression of Interest (EOI).
The Respondent alleged that the Applicant was ineligible under Section 29A of the Code due to the directors/promoters of the Corporate Debtor exercising significant influence over the Applicant.
The MSME certificate of the Corporate Debtor was obtained on 20.11.2021 after commencement of CIRP.
…Corporate Debtor was admitted into CIRP…
This Authority directed liquidation of the…