An application (IA(Plan)/6(AHM)2026) was filed by the Resolution Professional (RP) of M/s Maya Construction Company Private Limited to approve a resolution plan submitted by Mr. Kailash Shah, which had been approved by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Maya Construction Company Private Limited by M/s Shreenathji Marketing (Operational Creditor). IDBI Bank was the sole financial creditor. The Suspended Director/Promoter raised several objections to the resolution plan, including alleged inflation of the plan value by including the Corporate Debtor's own assets, lack of feasibility and viability, non-disclosure of SARFAESI recoveries by IDBI Bank, and procedural lapses by the RP in providing CoC
…An application (IA(Plan)/6(AHM)2026) was filed under Section 30(6) read with Section 31 of IBC, 2016 by the Resolution Professional of M/s Maya Construction Company Private Limited.
The application seeks approval of a Resolution Plan submitted by Mr. Kailash Shah, which has been approved with 100% vote by the Committee of Creditors (CoC).
M/s Shreenathji Marketing (Operational Creditor) filed CP(IB) No. 190 of 2023 for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
CIRP was admitted vide Order dated 28.03.2025, and Dharmendra Dhelariya was appointed as Interim Resolution Professional (IRP).
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IBBI Circular No. 12011/214/2023-IBBI/840 is…
Corporate Insolvency Resolution Process (CIRP)…
An application (IA(Plan)/6(AHM)2026) was filed by the Resolution Professional (RP) of M/s Maya Construction Company Private Limited to approve a resolution plan submitted by Mr. Kailash Shah, which had been approved by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Maya Construction Company Private Limited by M/s Shreenathji Marketing (Operational Creditor). IDBI Bank was the sole financial creditor. The Suspended Director/Promoter raised several objections to the resolution plan, including alleged inflation of the plan value by including the Corporate Debtor's own assets, lack of feasibility and viability, non-disclosure of SARFAESI recoveries by IDBI Bank, and procedural lapses by the RP in providing CoC
…An application (IA(Plan)/6(AHM)2026) was filed under Section 30(6) read with Section 31 of IBC, 2016 by the Resolution Professional of M/s Maya Construction Company Private Limited.
The application seeks approval of a Resolution Plan submitted by Mr. Kailash Shah, which has been approved with 100% vote by the Committee of Creditors (CoC).
M/s Shreenathji Marketing (Operational Creditor) filed CP(IB) No. 190 of 2023 for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
CIRP was admitted vide Order dated 28.03.2025, and Dharmendra Dhelariya was appointed as Interim Resolution Professional (IRP).
…IBBI Circular No. 12011/214/2023-IBBI/840 is…
Corporate Insolvency Resolution Process (CIRP)…