NOTICE:

The Last Date for submitting choice of Authorised Representative is extended to 21-7-2018. In case any difficulty is encountered in making selection through the google form, choice may be informed by sending a reply email. 

Request everyone to make their choice at the earliest.

Appointment of Authorised Representatives for Classes of Creditors under Section 21(6A)(b) of Insolvency and Bankruptcy Code, 2016

We have made two classes of financial creditors for appointment of Authorised Representatives under Section 21(6A)(b) of Insolvency and Bankruptcy Code, 2016 viz. 1. Real Estate Commercial (including mall / shops / IT spaces)   and 2. Real Estate (Residential). Emails have been sent to the members of Committee of Creditors (based on claims received up to May 24, 2018) to vote for one amongs the 3 proposed Insolvency Professionals as the Authorised Representative. The Insolvency Professional in whose favor highest number of responses are received by 16-7-2018 shall be proposed to Hon'ble NCLT, Delhi for appointment as Authorised Representative of the respective class. The Insolvency Professionals Proposed for respective classes are as under:

1. Real Estate Commercial (including mall / shops / IT spaces)

a. Alok Kaushik - IBBI/IPA-002/IP-N00253/2017-18/10767

b. Madhusudan Sharma - IBBI/IPA-003/IP-N00046/2017-2018/10395

c. Brij Nandan Kalra - IBBI/IPA-003/IP-N00014/2017-18/10103

2. Real Estate (Residential)

a. Anil Kumar Jain - IBBI/IPA-001/IP-P00735/2017-2018/11233 

b. Maya Gupta - IBBI/IPA-002/IP-N00363/2017-2018/11061 

c. Sandeep Goel - IBBI/IPA-003/IP-N00073/2017-18/10583
 
The Profiles of the proposed Insolvency Professionals are available on the website.

 

- The List of Claims received up to May 24, 2018 have been revised as some of the provisionally admitted claims were reported as Registry Done cases. Further revisions have been made upon resolution of queries received. Please check the revised List of Claims received upto May 24, 2018.

- The claims as Financial Creditor are not admissible where the registry for the allotted unit has already been done. Any such claim inadvertently admitted is liable to rejection. The claimants are requested to notify any such cases.

 

CONSTITUTION OF COMMITTEE OF CREDITORS

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 has been notified on June 6, 2018.

The Ordinance has classified the amounts raised from allottee's of real estate projects as - FINANCIAL CREDITOR. Accordinngly such allottee's of real estate projects who have filed claims in FORM F may file revised claim in FORM C for classification as FINANCIAL CREDITOR.

Further important amendments have been made to provisiosns of Section 21 of Insolvemncy and Bankruptcy Code, 2016 for Constitution of Committee of Creditors - where the number of creditors of a class exceeds a specified number. The Regulations in respect of said amendments are expected to be issued soon. Since a large number of claims have been received from Financial Creditors the Committee of Creditors shall be constituted once the regulations in this regard are issued.

 

ADMISSION OF CLAIMS AND ENTITLEMENT TO ATTEND MEETINGS OF COMMITTEE OF CREDITORS

The claims received up to 24-5-2018 (i.e. Last Date for filing claim as per Public Announcement) shall be considered for forming initial Committee of Creditors for the purpose of convening First meeting of Committee of Creditors.

 

The claims received after 24-5-2018 shall be verified and admitted and constitution of Committee of Creditors shall be revised before convening the Second Meeting of Committee of Creditors – with claims received up to a week before the notice is sent for convening the Second Meeting of Committee of Creditors. Likewise the constitution of Committee of Creditors shall be updated with claims received up to a week before the notice is sent for convening the subsequent meetings of Committee of Creditors.

 

The claims may be submitted till a Resolution Plan is approved by the Committee of Creditors.

 



Clarifications  may be sought/ provided on the amount of Claim admitted by sending email to claimissuesamr@gmail.com

PLEASE MENTION CLAIM ID IN THE SUBJECT