The Corporate Insolvency Resolution Process (CIRP) was initiated against Wadhwa Buildcon LLP. Mr. Rakesh Kumar Tulsyan was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vishal Ghisulal Jain as the Resolution Professional (RP). A resolution plan approved by the Committee of Creditors (CoC) was subsequently set aside by the Tribunal. Following an application by Bank of India, Mr. Vishal Ghisulal Jain was replaced by Mr. Manish Lalji Dawda as the new RP. Mr. Shailendra Kataria, as the Authorised Representative of Homebuyers, filed an Interlocutory Application (IA) challenging the new RP's re-verification of claims, which resulted in a significant reduction of the Homebuyers' voting share in the CoC, alleging the re-verification was illegal
…The Corporate Insolvency Resolution Process (CIRP) against Wadhwa Buildcon LLP commenced on 28.07.2020.
Mr. Rakesh Kumar Tulsyan was initially appointed as the Interim Resolution Professional (IRP).
Public announcement in Form A was issued on 30.07.2020, inviting claims from creditors.
In the 1st Committee of Creditors (CoC) meeting on 27.08.2020, Mr. Rakesh Kumar Tulsyan was replaced by Mr. Vishal Ghisulal Jain as the Resolution Professional (RP).
The Tribunal confirmed Mr. Vishal Ghisulal Jain's appointment as RP on 14.10.2020.
Mr. Vishal Ghisulal Jain filed an updated list of creditors on 16.01.2023, showing Homebuyers with 66.42% voting share and Bank of India with 33.58%.
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The Corporate Insolvency Resolution Process…
A Public announcement in Form A was issued,…
The Corporate Insolvency Resolution Process (CIRP) was initiated against Wadhwa Buildcon LLP. Mr. Rakesh Kumar Tulsyan was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vishal Ghisulal Jain as the Resolution Professional (RP). A resolution plan approved by the Committee of Creditors (CoC) was subsequently set aside by the Tribunal. Following an application by Bank of India, Mr. Vishal Ghisulal Jain was replaced by Mr. Manish Lalji Dawda as the new RP. Mr. Shailendra Kataria, as the Authorised Representative of Homebuyers, filed an Interlocutory Application (IA) challenging the new RP's re-verification of claims, which resulted in a significant reduction of the Homebuyers' voting share in the CoC, alleging the re-verification was illegal
…The Corporate Insolvency Resolution Process (CIRP) against Wadhwa Buildcon LLP commenced on 28.07.2020.
Mr. Rakesh Kumar Tulsyan was initially appointed as the Interim Resolution Professional (IRP).
Public announcement in Form A was issued on 30.07.2020, inviting claims from creditors.
In the 1st Committee of Creditors (CoC) meeting on 27.08.2020, Mr. Rakesh Kumar Tulsyan was replaced by Mr. Vishal Ghisulal Jain as the Resolution Professional (RP).
The Tribunal confirmed Mr. Vishal Ghisulal Jain's appointment as RP on 14.10.2020.
Mr. Vishal Ghisulal Jain filed an updated list of creditors on 16.01.2023, showing Homebuyers with 66.42% voting share and Bank of India with 33.58%.
…The Corporate Insolvency Resolution Process…
A Public announcement in Form A was issued,…