The application for Corporate Insolvency Resolution Process of M/s Kanakadhara Ventures Private Limited (Corporate Debtor) filed by M/s IDBI Bank Limited (Financial Creditor) under section 7 of the Code read with Rule 6 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 was admitted by Hon'ble NCLT, Hyderabad Bench vide order No. CP (IB) No.745/7/HDB/2018 of 2018 dated 22.11.2019.
IDBI Bank Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Kanakadhara Ventures Pvt Ltd.
The CIRP application was admitted by the NCLT Hyderabad Bench on 22.11.2019.
Liquidation was ordered by NCLT Hyderabad Bench.
A Stakeholders Consultation Committee (SCC) was formed on 07.10.2021.
Punjab National Bank, a secured financial creditor, filed IA No 227 of 2022 for removal of secured assets from the Liquidation Estate, which was allowed on 18.04.2022.
The liquidator handed over the assets to the secured financial creditor on 24.05.2022.
The SCC members decided to relinquish the secured assets in favor of the Liquidation Estate.
Parties have shown interest to purchase the assets as a going concern.
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CIRP initiated against…
CIRP application…
The application for Corporate Insolvency Resolution Process of M/s Kanakadhara Ventures Private Limited (Corporate Debtor) filed by M/s IDBI Bank Limited (Financial Creditor) under section 7 of the Code read with Rule 6 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016 was admitted by Hon'ble NCLT, Hyderabad Bench vide order No. CP (IB) No.745/7/HDB/2018 of 2018 dated 22.11.2019.
IDBI Bank Ltd initiated Corporate Insolvency Resolution Process (CIRP) against Kanakadhara Ventures Pvt Ltd.
The CIRP application was admitted by the NCLT Hyderabad Bench on 22.11.2019.
Liquidation was ordered by NCLT Hyderabad Bench.
A Stakeholders Consultation Committee (SCC) was formed on 07.10.2021.
Punjab National Bank, a secured financial creditor, filed IA No 227 of 2022 for removal of secured assets from the Liquidation Estate, which was allowed on 18.04.2022.
The liquidator handed over the assets to the secured financial creditor on 24.05.2022.
The SCC members decided to relinquish the secured assets in favor of the Liquidation Estate.
Parties have shown interest to purchase the assets as a going concern.
…CIRP initiated against…
CIRP application…