The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against A.P. Enterprises Private Limited, the Corporate Debtor, following an application filed by Bhagwati Kripa Paper Mills Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was admitted on 13.11.2018. Mr. Somnath Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Rajiv Khurana. The Committee of Creditors (CoC) was formed, and claims were invited from creditors. The Corporate Debtor was identified as a 'small enterprise' under the MSME Act, 2006. The resolution plan submitted by Mr. Narinder Garg, Mrs. Manju Garg, and Mr. Shiv Garg was approved by the CoC with 95.30% voting share.
Bhagwati Kripa Paper Mills Pvt. Ltd., an Operational Creditor, initiated CIRP against A.P. Enterprises Private Limited (Corporate Debtor) under Section 9 of the IBC. The CIRP was admitted on 13.11.2018. Somnath Gupta was appointed as IRP, later replaced by Rajiv Khurana. Public announcement was made to invite claims from creditors. The CoC was formed, including financial creditors like Kotak Mahindra Bank Ltd., ICICI Bank, and RBL Bank Ltd., and operational creditors like Sylvan Greens Pvt. Ltd., Bhagwati Kripa Paper Mills Pvt. Ltd, and Himanshu Paper Limited. The Corporate Debtor was classified as a 'small enterprise' under the MSME Act. A resolution plan was submitted by Narinder Garg, Manju Garg, and Shiv Garg, which was approved by the CoC with 95.30% voting share
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Corporate Insolvency Resolution Process…
Mr. Somnath Gupta was…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against A.P. Enterprises Private Limited, the Corporate Debtor, following an application filed by Bhagwati Kripa Paper Mills Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was admitted on 13.11.2018. Mr. Somnath Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Rajiv Khurana. The Committee of Creditors (CoC) was formed, and claims were invited from creditors. The Corporate Debtor was identified as a 'small enterprise' under the MSME Act, 2006. The resolution plan submitted by Mr. Narinder Garg, Mrs. Manju Garg, and Mr. Shiv Garg was approved by the CoC with 95.30% voting share.
Bhagwati Kripa Paper Mills Pvt. Ltd., an Operational Creditor, initiated CIRP against A.P. Enterprises Private Limited (Corporate Debtor) under Section 9 of the IBC. The CIRP was admitted on 13.11.2018. Somnath Gupta was appointed as IRP, later replaced by Rajiv Khurana. Public announcement was made to invite claims from creditors. The CoC was formed, including financial creditors like Kotak Mahindra Bank Ltd., ICICI Bank, and RBL Bank Ltd., and operational creditors like Sylvan Greens Pvt. Ltd., Bhagwati Kripa Paper Mills Pvt. Ltd, and Himanshu Paper Limited. The Corporate Debtor was classified as a 'small enterprise' under the MSME Act. A resolution plan was submitted by Narinder Garg, Manju Garg, and Shiv Garg, which was approved by the CoC with 95.30% voting share
…Corporate Insolvency Resolution Process…
Mr. Somnath Gupta was…