The case involves an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for the liquidation of Fort Projects Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Fort Projects Private Limited on a petition filed by Emami Realty Limited, the Financial Creditor.
CIRP was initiated against Fort Projects Private Limited based on a petition by Emami Realty Limited.
C.A Kannan Tiruvengadam was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
The extended CIRP period expired on 18th February 2025, and further extensions were granted.
The CoC rejected the resolution plan by 76.63% voting share.
The CoC voted to proceed with the liquidation of the Corporate Debtor under section 33(2) of the IBC Code 2016.
The CoC proposed the name of C.A Kannan Tiruvengadam as the Liquidator.
The Adjudicating Authority found that there was no scope for resolution of the Corporate Debtor.
The Adjudicating Authority appointed Shri Umesh Kumar as the Liquidator instead of C.A Kannan Tiruvengadam.
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Adjudicating Authority…
3rd CoC meeting held,…
The case involves an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for the liquidation of Fort Projects Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Fort Projects Private Limited on a petition filed by Emami Realty Limited, the Financial Creditor.
CIRP was initiated against Fort Projects Private Limited based on a petition by Emami Realty Limited.
C.A Kannan Tiruvengadam was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).
The extended CIRP period expired on 18th February 2025, and further extensions were granted.
The CoC rejected the resolution plan by 76.63% voting share.
The CoC voted to proceed with the liquidation of the Corporate Debtor under section 33(2) of the IBC Code 2016.
The CoC proposed the name of C.A Kannan Tiruvengadam as the Liquidator.
The Adjudicating Authority found that there was no scope for resolution of the Corporate Debtor.
The Adjudicating Authority appointed Shri Umesh Kumar as the Liquidator instead of C.A Kannan Tiruvengadam.
Adjudicating Authority…
3rd CoC meeting held,…