The Corporate Insolvency Resolution Process (CIRP) of Lakeland Chemicals (India) Ltd. was initiated by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Court – III) based on an application filed by Mahavir Interchem under Section 9 of the Insolvency and Bankruptcy Code, 2016. Nandkishore Bhatia was appointed as the Interim Resolution Professional (IRP), and later B.K. Mishra was appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The IRP published a public announcement inviting claims from creditors. The RP received Expression of Interests (EOIs) from three Prospective Resolution Applicants (PRAs) and evaluated them. The resolution plan submitted by KLJ Resources Ltd. was approved by the CoC with a voting share of
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Lakeland Chemicals (India) Ltd. based on an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority approved the initiation. An Interim Resolution Professional (IRP) was appointed, followed by the appointment of B.K. Mishra as the Resolution Professional (RP). The RP invited claims from creditors, and the claims of Financial and Operational Creditors were received and admitted. The RP obtained valuations of the assets and issued Form-G for inviting Expression of Interest (EOI). Three Prospective Resolution Applicants (PRAs) submitted EOIs. The resolution plan submitted by KLJ Resources Ltd. was approved by the Committee of Creditors (CoC) with a 96.38%
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The Adjudicating Authority (National Company…
The Committee of Creditors (CoC) appointed…
The Corporate Insolvency Resolution Process (CIRP) of Lakeland Chemicals (India) Ltd. was initiated by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Court – III) based on an application filed by Mahavir Interchem under Section 9 of the Insolvency and Bankruptcy Code, 2016. Nandkishore Bhatia was appointed as the Interim Resolution Professional (IRP), and later B.K. Mishra was appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The IRP published a public announcement inviting claims from creditors. The RP received Expression of Interests (EOIs) from three Prospective Resolution Applicants (PRAs) and evaluated them. The resolution plan submitted by KLJ Resources Ltd. was approved by the CoC with a voting share of
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Lakeland Chemicals (India) Ltd. based on an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority approved the initiation. An Interim Resolution Professional (IRP) was appointed, followed by the appointment of B.K. Mishra as the Resolution Professional (RP). The RP invited claims from creditors, and the claims of Financial and Operational Creditors were received and admitted. The RP obtained valuations of the assets and issued Form-G for inviting Expression of Interest (EOI). Three Prospective Resolution Applicants (PRAs) submitted EOIs. The resolution plan submitted by KLJ Resources Ltd. was approved by the Committee of Creditors (CoC) with a 96.38%
…The Adjudicating Authority (National Company…
The Committee of Creditors (CoC) appointed…