The case involves an application filed under Section 30 read with Section 31 of the Insolvency and Bankruptcy Code, 2016, for the approval of a revised resolution plan submitted by Mr. Chintan N Patel for the Corporate Debtor, M/s Omshri Devprocon Limited. The application also seeks to condone a delay of 39 days in filing.
The Operational Creditor, Aakar Construction, filed an insolvency application under Section 9 of the Code against the Corporate Debtor, M/s. Omshri Devprocon Limited, which was admitted on 04.08.2022.
The IRP made a public announcement in Form A dated 06.08.2024.
The Committee of Creditors (CoC) was constituted, comprising of two unsecured financial creditors, one operational creditor, and one from the EPFO department.
The CoC approved a resolution plan submitted by Mr. Chintan N Patel with a 100% voting share on 17.04.2023.
A previous resolution plan submitted by the same SRA was rejected by the Tribunal on 02.11.2023.
The Hon'ble NCLAT upheld the Tribunal's order rejecting the previous resolution plan and granted liberty to the RP to issue fresh Form G.
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The insolvency…
The IRP made a…
The case involves an application filed under Section 30 read with Section 31 of the Insolvency and Bankruptcy Code, 2016, for the approval of a revised resolution plan submitted by Mr. Chintan N Patel for the Corporate Debtor, M/s Omshri Devprocon Limited. The application also seeks to condone a delay of 39 days in filing.
The Operational Creditor, Aakar Construction, filed an insolvency application under Section 9 of the Code against the Corporate Debtor, M/s. Omshri Devprocon Limited, which was admitted on 04.08.2022.
The IRP made a public announcement in Form A dated 06.08.2024.
The Committee of Creditors (CoC) was constituted, comprising of two unsecured financial creditors, one operational creditor, and one from the EPFO department.
The CoC approved a resolution plan submitted by Mr. Chintan N Patel with a 100% voting share on 17.04.2023.
A previous resolution plan submitted by the same SRA was rejected by the Tribunal on 02.11.2023.
The Hon'ble NCLAT upheld the Tribunal's order rejecting the previous resolution plan and granted liberty to the RP to issue fresh Form G.
…The insolvency…
The IRP made a…