The Corporate Insolvency Resolution Process (CIRP) for Shriram Cement Ltd. commenced on September 20, 2019. A Resolution Plan submitted by High Performance Products Industries Pvt. Ltd. (Successful Resolution Applicant - SRA) was approved by the Committee of Creditors on December 9, 2020, and by the Adjudicating Authority on September 20, 2021. Under the approved plan, the SRA was to settle admitted dues of Rs. 20,75,09,078.93 for Rs. 5.50 Crores by December 20, 2021. However, the SRA only paid Rs. 30 Lakhs by March 31, 2022, failing to implement the plan. The SRA attributed this non-implementation to a pending land dispute concerning Survey No. 47 (the Corporate Debtor's sole asset) and the non-release of a Bank Guarantee, and sought an extension of time and other
…Shriram Cement Ltd. (Corporate Debtor) was incorporated on April 27, 2000.
The Corporate Insolvency Resolution Process (CIRP) against Shriram Cement Ltd. was initiated on September 20, 2019.
An Interim Resolution Professional (IRP) was appointed on September 20, 2019, and subsequently confirmed as the Resolution Professional on November 8, 2019.
Expressions of Interest (EOIs) were published on January 31, 2020, and a 90-day exclusion was granted on June 29, 2020.
The Resolution Plan submitted by High Performance Products Industries Pvt. Ltd. (Respondent No. 1/SRA) was approved by the Committee of Creditors (CoC) on December 9, 2020, and by the Adjudicating Authority on September 20, 2021.
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Land bearing Survey No.…
Land transferred to…
The Corporate Insolvency Resolution Process (CIRP) for Shriram Cement Ltd. commenced on September 20, 2019. A Resolution Plan submitted by High Performance Products Industries Pvt. Ltd. (Successful Resolution Applicant - SRA) was approved by the Committee of Creditors on December 9, 2020, and by the Adjudicating Authority on September 20, 2021. Under the approved plan, the SRA was to settle admitted dues of Rs. 20,75,09,078.93 for Rs. 5.50 Crores by December 20, 2021. However, the SRA only paid Rs. 30 Lakhs by March 31, 2022, failing to implement the plan. The SRA attributed this non-implementation to a pending land dispute concerning Survey No. 47 (the Corporate Debtor's sole asset) and the non-release of a Bank Guarantee, and sought an extension of time and other
…Shriram Cement Ltd. (Corporate Debtor) was incorporated on April 27, 2000.
The Corporate Insolvency Resolution Process (CIRP) against Shriram Cement Ltd. was initiated on September 20, 2019.
An Interim Resolution Professional (IRP) was appointed on September 20, 2019, and subsequently confirmed as the Resolution Professional on November 8, 2019.
Expressions of Interest (EOIs) were published on January 31, 2020, and a 90-day exclusion was granted on June 29, 2020.
The Resolution Plan submitted by High Performance Products Industries Pvt. Ltd. (Respondent No. 1/SRA) was approved by the Committee of Creditors (CoC) on December 9, 2020, and by the Adjudicating Authority on September 20, 2021.
…Land bearing Survey No.…
Land transferred to…