Mr. Kakaraparthi Kiran Kumar (Applicant) filed a claim as an Unsecured Financial Creditor for Rs. 74,70,80,806/- against SLS Power Corporation Limited (Corporate Debtor), based on Compulsorily Convertible Debentures (CCDs) assigned from IFCI Venture. His claim was initially admitted by the Interim Resolution Professional (IRP), and he was included in the Committee of Creditors (CoC) with an 8.86% voting share. Subsequently, based on a legal opinion and objections from Indian Renewable Energy Development Agency Limited (IREDA), the sole secured Financial Creditor, the Resolution Professional (RP) reclassified Mr. K. Kiran Kumar as an equity holder and excluded him from the CoC. The Applicant filed IA(IBC)/209/2026 to challenge this reclassification and seek
…The Adjudicating Authority admitted SLS Power Corporation Limited (Corporate Debtor) into the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC on 07.04.2025.
Mr. Kammula Prabhakar Rao was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) on 16.05.2025.
The IRP made a public announcement on 13.04.2025, inviting claims from creditors by 25.04.2025.
Mr. Kakaraparthi Kiran Kumar (Applicant) filed a claim in Form-C on 25.04.2025 for Rs. 74,70,80,806/- as an Unsecured Financial Creditor.
The Applicant's claim was initially fully admitted by the IRP, and he was included in the Committee of Creditors (CoC) as an Unsecured Financial Creditor with an 8.86% voting share as on 13.05.2025.
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The Adjudicating Authority admitted SLS Power…
The Interim Resolution Professional (IRP) made a…
Mr. Kakaraparthi Kiran Kumar (Applicant) filed a claim as an Unsecured Financial Creditor for Rs. 74,70,80,806/- against SLS Power Corporation Limited (Corporate Debtor), based on Compulsorily Convertible Debentures (CCDs) assigned from IFCI Venture. His claim was initially admitted by the Interim Resolution Professional (IRP), and he was included in the Committee of Creditors (CoC) with an 8.86% voting share. Subsequently, based on a legal opinion and objections from Indian Renewable Energy Development Agency Limited (IREDA), the sole secured Financial Creditor, the Resolution Professional (RP) reclassified Mr. K. Kiran Kumar as an equity holder and excluded him from the CoC. The Applicant filed IA(IBC)/209/2026 to challenge this reclassification and seek
…The Adjudicating Authority admitted SLS Power Corporation Limited (Corporate Debtor) into the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC on 07.04.2025.
Mr. Kammula Prabhakar Rao was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) on 16.05.2025.
The IRP made a public announcement on 13.04.2025, inviting claims from creditors by 25.04.2025.
Mr. Kakaraparthi Kiran Kumar (Applicant) filed a claim in Form-C on 25.04.2025 for Rs. 74,70,80,806/- as an Unsecured Financial Creditor.
The Applicant's claim was initially fully admitted by the IRP, and he was included in the Committee of Creditors (CoC) as an Unsecured Financial Creditor with an 8.86% voting share as on 13.05.2025.
…The Adjudicating Authority admitted SLS Power…
The Interim Resolution Professional (IRP) made a…