The case involves an Interlocutory Application filed by the Resolution Professional for the liquidation of Sigtia Constructions Pvt. Ltd. and four other consolidated Corporate Debtors. The Corporate Insolvency Resolution Process (CIRP) for these entities was initiated, and after debt assignment, Omkara Assets Reconstruction Pvt. Ltd. became the sole secured Financial Creditor and a key member of the Committee of Creditors (CoC). Despite consolidation of the CIRP and multiple attempts to solicit resolution plans, only one Prospective Resolution Applicant emerged, whose revised plan was deemed unviable and unfeasible by the CoC due to numerous deficiencies. The Corporate Debtor's management also failed to cooperate.
An Interlocutory Application (IA(IBC)(LIQ.)/ 57(MB)2026) was filed on 14.08.2026 by the Resolution Professional Mr. Vithal M. Dahake under Section 33 of IBC, 2016, for initiating liquidation against SIGTIA CONSTRUCTIONS PVT. LTD. (Corporate Debtor).
The Tribunal admitted the Main Corporate Debtor (Sigtia Constructions Pvt. Ltd.) into CIRP on 07.02.2025 and appointed Mr. Jayesh Natvarlal Sanghrajka as the Interim Resolution Professional.
The Company Petition was initially filed by M/s. Piramal Capital & Housing Finance Ltd. (erstwhile FC), based on a loan disbursed by M/s. Dewan Housing Finance Ltd. (DHFL) to the Main Corporate Debtor.
DHFL was admitted into CIRP on 03.12.2019, and its Resolution Plan was approved, leading to its reverse merger with the erstwhile FC.
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M/s. Dewan Housing…
M/s. Omkara Assets Reconstruction Pvt. Ltd. was…
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The case involves an Interlocutory Application filed by the Resolution Professional for the liquidation of Sigtia Constructions Pvt. Ltd. and four other consolidated Corporate Debtors. The Corporate Insolvency Resolution Process (CIRP) for these entities was initiated, and after debt assignment, Omkara Assets Reconstruction Pvt. Ltd. became the sole secured Financial Creditor and a key member of the Committee of Creditors (CoC). Despite consolidation of the CIRP and multiple attempts to solicit resolution plans, only one Prospective Resolution Applicant emerged, whose revised plan was deemed unviable and unfeasible by the CoC due to numerous deficiencies. The Corporate Debtor's management also failed to cooperate.
An Interlocutory Application (IA(IBC)(LIQ.)/ 57(MB)2026) was filed on 14.08.2026 by the Resolution Professional Mr. Vithal M. Dahake under Section 33 of IBC, 2016, for initiating liquidation against SIGTIA CONSTRUCTIONS PVT. LTD. (Corporate Debtor).
The Tribunal admitted the Main Corporate Debtor (Sigtia Constructions Pvt. Ltd.) into CIRP on 07.02.2025 and appointed Mr. Jayesh Natvarlal Sanghrajka as the Interim Resolution Professional.
The Company Petition was initially filed by M/s. Piramal Capital & Housing Finance Ltd. (erstwhile FC), based on a loan disbursed by M/s. Dewan Housing Finance Ltd. (DHFL) to the Main Corporate Debtor.
DHFL was admitted into CIRP on 03.12.2019, and its Resolution Plan was approved, leading to its reverse merger with the erstwhile FC.
…M/s. Dewan Housing…
M/s. Omkara Assets Reconstruction Pvt. Ltd. was…
Sign in to view related legal provisions.