The Corporate Insolvency Resolution Process (CIRP) was initiated against Radius & Deserve Land Developers Private Limited (Corporate Debtor) on May 3, 2023. IDBI Trusteeship Services Limited was identified as the sole Financial Creditor with 100% voting share. Aegis Resolution Services Private Limited, through Ms. Prajakta Menezes, was appointed as the Resolution Professional (RP). After multiple rounds of inviting Expressions of Interest (EoIs) and considering various resolution plans, the Committee of Creditors (CoC) approved the Resolution Plan submitted by Bharadvaja Buildcon LLP with a 100% voting share on March 31, 2025. The RP subsequently filed an Interlocutory Application (IA(PLAN)/82/2025) seeking the NCLT's approval of this plan.
The Corporate Insolvency Resolution Process (CIRP) of M/s. Radius & Deserve Land Developers Private Limited ("Corporate Debtor") was initiated vide order dated 03.05.2023 under Section 7 of the Insolvency and Bankruptcy Code, 2016.
Mr. Avil Menezes was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.
A Public Announcement in Form A was issued on 05.05.2023, inviting claims from all creditors on or before 17.05.2023.
The Committee of Creditors ("CoC") was constituted on 26.05.2023, with IDBI Trusteeship Services Limited as the sole Financial Creditor, holding 100% voting share and an admitted claim of Rs. 32,55,82,12,007.
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Corporate Insolvency Resolution Process (CIRP)…
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The Corporate Insolvency Resolution Process (CIRP) was initiated against Radius & Deserve Land Developers Private Limited (Corporate Debtor) on May 3, 2023. IDBI Trusteeship Services Limited was identified as the sole Financial Creditor with 100% voting share. Aegis Resolution Services Private Limited, through Ms. Prajakta Menezes, was appointed as the Resolution Professional (RP). After multiple rounds of inviting Expressions of Interest (EoIs) and considering various resolution plans, the Committee of Creditors (CoC) approved the Resolution Plan submitted by Bharadvaja Buildcon LLP with a 100% voting share on March 31, 2025. The RP subsequently filed an Interlocutory Application (IA(PLAN)/82/2025) seeking the NCLT's approval of this plan.
The Corporate Insolvency Resolution Process (CIRP) of M/s. Radius & Deserve Land Developers Private Limited ("Corporate Debtor") was initiated vide order dated 03.05.2023 under Section 7 of the Insolvency and Bankruptcy Code, 2016.
Mr. Avil Menezes was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.
A Public Announcement in Form A was issued on 05.05.2023, inviting claims from all creditors on or before 17.05.2023.
The Committee of Creditors ("CoC") was constituted on 26.05.2023, with IDBI Trusteeship Services Limited as the sole Financial Creditor, holding 100% voting share and an admitted claim of Rs. 32,55,82,12,007.
…Corporate Insolvency Resolution Process (CIRP)…
Public Announcement in…