The case pertains to an application filed under section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan for Aeon Manufacturing Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by Bank of India under section 7 of the IBC, which was admitted on 30.10.2019. The Interim Resolution Professional (IRP) was appointed and subsequently confirmed as the Resolution Professional (RP). The RP invited Expressions of Interest (EoIs) from potential resolution applicants, and after several rounds of negotiation and evaluation, the Resolution Plan submitted by Indo Polysacks Private Limited was approved by the Committee of Creditors (CoC) with a 100% voting share.
Bank of India filed a company petition (CP (IB) No. 683/KB/2018) against Aeon Manufacturing Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, which was admitted on 30.10.2019, initiating the Corporate Insolvency Resolution Process (CIRP). Raj Singhania was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcements were made on 02.11.2019, inviting claims from creditors. Sixteen Committee of Creditors (CoC) meetings were held during the CIRP. The RP received Expressions of Interest (EoIs) from multiple prospective Resolution Applicants (RAs). After several rounds of negotiation, the Resolution Plan submitted by Indo Polysacks Private Limited was approved by the CoC
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CP (IB) No. 683/KB/2018…
Company Pet…
The case pertains to an application filed under section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan for Aeon Manufacturing Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by Bank of India under section 7 of the IBC, which was admitted on 30.10.2019. The Interim Resolution Professional (IRP) was appointed and subsequently confirmed as the Resolution Professional (RP). The RP invited Expressions of Interest (EoIs) from potential resolution applicants, and after several rounds of negotiation and evaluation, the Resolution Plan submitted by Indo Polysacks Private Limited was approved by the Committee of Creditors (CoC) with a 100% voting share.
Bank of India filed a company petition (CP (IB) No. 683/KB/2018) against Aeon Manufacturing Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, which was admitted on 30.10.2019, initiating the Corporate Insolvency Resolution Process (CIRP). Raj Singhania was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcements were made on 02.11.2019, inviting claims from creditors. Sixteen Committee of Creditors (CoC) meetings were held during the CIRP. The RP received Expressions of Interest (EoIs) from multiple prospective Resolution Applicants (RAs). After several rounds of negotiation, the Resolution Plan submitted by Indo Polysacks Private Limited was approved by the CoC
…CP (IB) No. 683/KB/2018…
Company Pet…