Siddesh Bhalchandra Naik, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Rao Edusolutions Pvt Ltd. Mr. Viral Vora was appointed as the Interim Resolution Professional (IRP) and subsequently the Resolution Professional (RP). Despite efforts, including inviting Expressions of Interest (EOI) from multiple parties and promoters, no viable resolution plan was approved for the Corporate Debtor. A resolution plan submitted by a suspended director was rejected due to the non-deposit and subsequent dishonour of the Earnest Money Deposit (EMD).
A petition under Section 9 of the IBC was filed by Siddesh Bhalchandra Naik against Rao Edusolutions Pvt Ltd.
The petition was admitted by the Tribunal vide order dated 03.07.2023, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
Mr. Viral Vora was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.
Public Announcement (Form A) was published on 09.07.2023, inviting claims from creditors, with the last date for submission being 21.07.2023.
A detailed report regarding the constitution of the Committee of Creditors (CoC) was submitted to the Tribunal on 28.07.2023.
In the 1st CoC meeting held on 07.08.2023, Mr. Viral Vora was appointed as the Resolution Professional (RP).
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Petition under Section 9 of the Code admitted,…
Form A (Public Announcement) published in…
Siddesh Bhalchandra Naik, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Rao Edusolutions Pvt Ltd. Mr. Viral Vora was appointed as the Interim Resolution Professional (IRP) and subsequently the Resolution Professional (RP). Despite efforts, including inviting Expressions of Interest (EOI) from multiple parties and promoters, no viable resolution plan was approved for the Corporate Debtor. A resolution plan submitted by a suspended director was rejected due to the non-deposit and subsequent dishonour of the Earnest Money Deposit (EMD).
A petition under Section 9 of the IBC was filed by Siddesh Bhalchandra Naik against Rao Edusolutions Pvt Ltd.
The petition was admitted by the Tribunal vide order dated 03.07.2023, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
Mr. Viral Vora was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.
Public Announcement (Form A) was published on 09.07.2023, inviting claims from creditors, with the last date for submission being 21.07.2023.
A detailed report regarding the constitution of the Committee of Creditors (CoC) was submitted to the Tribunal on 28.07.2023.
In the 1st CoC meeting held on 07.08.2023, Mr. Viral Vora was appointed as the Resolution Professional (RP).
…Petition under Section 9 of the Code admitted,…
Form A (Public Announcement) published in…