An application was filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016 by the Resolution Professional of the corporate debtor seeking approval of the resolution plan.
The Operational Creditor filed an insolvency application under Section 9 of the Code against the Corporate Debtor.
The CIRP was initiated against the Corporate Debtor vide order dated 03.02.2023, and the applicant was appointed as IRP.
The Committee of Creditors (CoC) was constituted on 27.02.2023, comprising of sole Financial Creditor i.e. Khodiyar Krupa Fabrics.
The Resolution Professional (RP) published Form G for Expression of Interest (Eol) on 01.04.2023.
The RP received three Eols from Prospective Resolution Applicants (PRAs).
The resolution plan submitted by Rakesh Omprakash Bhandari on 16.08.2023 was approved by the CoC with 100% votes.
The fair value of the assets was Rs. 56,82,090/- and the liquidation value was Rs. 55,68,116/-.
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An application was filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016 by the Resolution Professional of the corporate debtor seeking approval of the resolution plan.
The Operational Creditor filed an insolvency application under Section 9 of the Code against the Corporate Debtor.
The CIRP was initiated against the Corporate Debtor vide order dated 03.02.2023, and the applicant was appointed as IRP.
The Committee of Creditors (CoC) was constituted on 27.02.2023, comprising of sole Financial Creditor i.e. Khodiyar Krupa Fabrics.
The Resolution Professional (RP) published Form G for Expression of Interest (Eol) on 01.04.2023.
The RP received three Eols from Prospective Resolution Applicants (PRAs).
The resolution plan submitted by Rakesh Omprakash Bhandari on 16.08.2023 was approved by the CoC with 100% votes.
The fair value of the assets was Rs. 56,82,090/- and the liquidation value was Rs. 55,68,116/-.
…Order passed initiating…
Public announcement…