The case pertains to an Interlocutory Application (I.A (IBC) (Liq) No.03/2025) filed by the Resolution Professional (RP) of the Corporate Debtor, M/s Sri Pavana Keerthi Hotels India Pvt. Ltd., under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking orders for liquidation of the Corporate Debtor.
The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 11.04.2022.
Mr. Gunturu Raghu Babu was initially appointed as the Interim Resolution Professional and subsequently continued as Resolution Professional.
Mr. Govada Venkata Subbarao was appointed as the Resolution Professional on 29.04.2024.
A resolution plan submitted by Mr. Virigineni Anjaiah was approved unanimously by the Committee of Creditors (CoC).
The Successful Resolution Applicant (SRA) failed to submit the Performance Bank Guarantee (PBG) despite extensions.
The CoC resolved to liquidate the Corporate Debtor in the 18th CoC meeting.
Mr. Govada Venkata Subba Rao was appointed as Liquidator.
The CIRP period expired on 18.03.2025.
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The Corporate Debtor…
The Hon'ble NCLAT, vide interim order dated…
The case pertains to an Interlocutory Application (I.A (IBC) (Liq) No.03/2025) filed by the Resolution Professional (RP) of the Corporate Debtor, M/s Sri Pavana Keerthi Hotels India Pvt. Ltd., under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking orders for liquidation of the Corporate Debtor.
The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 11.04.2022.
Mr. Gunturu Raghu Babu was initially appointed as the Interim Resolution Professional and subsequently continued as Resolution Professional.
Mr. Govada Venkata Subbarao was appointed as the Resolution Professional on 29.04.2024.
A resolution plan submitted by Mr. Virigineni Anjaiah was approved unanimously by the Committee of Creditors (CoC).
The Successful Resolution Applicant (SRA) failed to submit the Performance Bank Guarantee (PBG) despite extensions.
The CoC resolved to liquidate the Corporate Debtor in the 18th CoC meeting.
Mr. Govada Venkata Subba Rao was appointed as Liquidator.
The CIRP period expired on 18.03.2025.
The Corporate Debtor…
The Hon'ble NCLAT, vide interim order dated…