Insolvency Process (CIRP)

The Hon’ble NCLT , vide its order dated, 12th February 2019 was pleased to admit the Company Petition in C.P(IB)NO.423/9/HDB/2018 filed by Priya Trading Company, Operational Creditor against M/s. Veda Bio Fuel Limited, Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code,2016 and the Rules & Regulations there at and appointed Mr. Gonugunta Murali as an Interim Resolution Professional vide its order dated 12th February 2019 in C.P(IB)423/9/HDB/2018.

In the first meeting held on 14th March 2019, the Committee of Creditors passed the resolution for the continuation of the Interim Resolution Professional as a Resolution Professional. However, the Committee of Creditors had resolved to seek replacement of the then Resolution Professional Mr. Gonugunta Murali and hence had filed an .A.No.27/2019 under Section 27(3) of IBC, 2016.

The Hon’ble Tribunal was pleased to allow the Application vide Order dated 27th September 2019 and appointed Mr. Sisir Kumar Appikatla as the new resolution professional in place of the earlier RP under Section 16 of the IBC Code 2016.

• NCLT order for Admission -CIRP
• Public Announcement in Form -A
• EOI in Form G (22-04-2020)
• EOI in Form G (08-11-2020)
• Claims Admitted During CIRP