EzResolve
banner 2-01.png

Work Done as Resolution Professional and Liquidator-EzResolve

ASSIGNMENTS ON HAND

 

CORPORATE INSOLVENCY

CIRP on Hand

Lanco Hoskote Highway Ltd

Lanco Hoskote Highway Limited has been admitted under CIRP on 17th October, 2019. Mr. Raghu Babu Gunturu was appointed as the Interim Resolution Professional. This CIRP has been initiated by Edelweiss Asset Reconstruction Company Limited.

Sai Rayalaseema Paper Mills Limited

Sai Rayalaseema Paper Mills Limited has been admitted under the purview of CIRP on 20th August, 2019. Mr. Raghu Babu Gunturu was appointed as the Interim Resolution Professional and Resolution Professional. The CoC consists of Oriental Bank of Commerce and Edelweiss.

Ciscon Projects Private Limited

The Ciscon Projects Private Limited was admitted for CIRP before the NCLT, Hyderabad bench on 31st January, 2019. Mrs. Sandhya Tadla was appointed as Interim Resolution Professional and Resolution Professional. The Committee of Creditors involves Tata Capital Financial Services Ltd and Corporation Bank. The claims admitted are close to Rs 25 crores. The RP has filed the Resolution Plan approved by CoC before the NCLT, Hyderabad bench and awaits for final order. 

Kumar's Metallurgical Corporations Limited

In Kumar's Metallurgical Corporations Limited, the CIRP was initiated on 28th November, 2018. Mr. Raghu Babu Gunturu was appointed as Resolution Professional for this given assignment. The Committee of Creditors consists of SASF, ARCIL, Prudent ARC Ltd. and Central Bank of India. The total claims estimated about Rs 5650 crores. The Resolution Professional have submitted the Resolution Plan before the NCLT, Hyderabad Bench and awaits for the final order of Tribunal.

Viz Infra Consultants Private Limited

Viz Infra Consultants Private Limited was admitted for CIRP on 28th August, 2018. Mr Raghu Babu Gunturu was appointed as the Interim Resolution Professional and Resolution Professional (RP). The Committee of Creditors includes IFICI Ltd. & IFCI Venture Capital Ltd. The claims admitted is Rs  474 crores. This CIRP is on the verge of completion and the Resolution Professional have submitted the Resolution Plan before the NCLT, Mumbai bench. And the tribunal has reserved the final order.

Completed Assignments

Kadevi Industries Limited

The Kadevi Industries Limited which was incorporated on 2nd August, 1973, was admitted for Corporate Insolvency Resolution Process (CIRP) on 15th March, 2019. Mr Raghu Babu Gunturu was appointed as the Resolution professional for the given assignment. The Hyderabad bench of NCLT passed the order for liquidation. The Committee of Creditors were Indian Bank, State Bank of Hyderabad, Corporation Bank and Axis Bank. The total claims admitted for corporate debtor were Rs 460 crores.

Neutrino Power Systems Private Limited

The Neutrino Power Systems Private Limited was admitted for CIRP on 22nd January, 2018. Mrs. Sandhya Tadla has acted as the Interim Resolution Professional The Bank of Bahrain & Kuwait was the member of Committee of Creditors.

Ashok Polymers Limited

The CIRP was started against the Ashok Polymers Limited on 19th February, 2019. Mrs. Sandhya Tadla was appointed as the Interim Resolution Professional (IRP). M/s. Gowra Petrochem Private Ltd., one of the Financial Creditors, who have initiated the CIRP, withdrawn the CIRP under 12A. The Committee of Creditors involves ICICI Bank and Ors. The admitted claim was upto Rs 35 crores.

 

 

ADVISORY

We are currently advising to potential Resolution Applicants regarding the submission of Resolution Plans to the companies which are under CIRP.


LIQUIDATION

Pavai Alloys & Steels Private Limited

The Pavai Alloys & Steels Private Limited has been admitted for Liquidation on 3rd December, 2018. Mr. Raghu Babu Gunturu was appointed as Liquidator.

Currently, Mr. Raghu Babu Gunturu, is also acting as Liquidator in six companies under Voluntary Liquidation process.