The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Amintha Infrastructure Private Limited based on a petition filed by Corporation Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered due to the corporate debtor's inability to meet its financial obligations. An Interim Resolution Professional (IRP), Mr. Raghunathan Krishnasamy, was appointed, and a moratorium was imposed. The IRP constituted a Committee of Creditors (CoC) consisting solely of Corporation Bank. The CoC approved the appointment of the IRP as the Resolution Professional (RP). The RP invited Expression of Interest (EOI) for submitting a resolution plan, and after several attempts and extensions, a resolution plan submitted by M/s.
…1. Corporation Bank initiated CIRP against Amintha Infrastructure Private Limited under Section 7 of IBC, 2016.
2. Raghunathan Krishnasamy was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
3. The Committee of Creditors (CoC) consisted solely of Corporation Bank, holding 100% voting share.
4. The RP invited Expression of Interest (EOI) for resolution plans, receiving two EOIs initially, but no resolution plan was submitted by the due date.
5. Several extensions were granted for submitting resolution plans, and multiple advertisements were issued.
6. M/s. Seva Industries submitted a resolution plan, which was later revised.
7. The CoC approved the revised resolution plan submitted by M/s. Seva Industries with
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The Adjudicating Authority admitted the…
The Interim Resolution Professional made a…
The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Amintha Infrastructure Private Limited based on a petition filed by Corporation Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered due to the corporate debtor's inability to meet its financial obligations. An Interim Resolution Professional (IRP), Mr. Raghunathan Krishnasamy, was appointed, and a moratorium was imposed. The IRP constituted a Committee of Creditors (CoC) consisting solely of Corporation Bank. The CoC approved the appointment of the IRP as the Resolution Professional (RP). The RP invited Expression of Interest (EOI) for submitting a resolution plan, and after several attempts and extensions, a resolution plan submitted by M/s.
…1. Corporation Bank initiated CIRP against Amintha Infrastructure Private Limited under Section 7 of IBC, 2016.
2. Raghunathan Krishnasamy was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
3. The Committee of Creditors (CoC) consisted solely of Corporation Bank, holding 100% voting share.
4. The RP invited Expression of Interest (EOI) for resolution plans, receiving two EOIs initially, but no resolution plan was submitted by the due date.
5. Several extensions were granted for submitting resolution plans, and multiple advertisements were issued.
6. M/s. Seva Industries submitted a resolution plan, which was later revised.
7. The CoC approved the revised resolution plan submitted by M/s. Seva Industries with
The Adjudicating Authority admitted the…
The Interim Resolution Professional made a…