The case involves the Corporate Insolvency Resolution Process (CIRP) initiated against Admiron Life Sciences Private Limited. The Resolution Professional (RP) filed an application seeking approval of the Resolution Plan approved by the Committee of Creditors (CoC). The CIRP was initiated under Section 10 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the petition and imposed a moratorium. An Interim Resolution Professional (IRP) was appointed, who was later replaced by Mr. Madhusudhan Rao as the Resolution Professional. The CoC approved a resolution plan submitted by M/s. Aarishi Medkare Private Limited.
Admiron Life Sciences Private Limited initiated Corporate Insolvency Resolution Process (CIRP) by filing a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the petition on 28.07.2017 and imposed a moratorium on 09.08.2017. Mr. Venkateswarlu Bharathula was appointed as the Interim Resolution Professional (IRP). The IRP was later replaced by Mr. Madhusudhan Rao as the Resolution Professional (RP). The Committee of Creditors (CoC) consisted of SBI as the sole financial creditor with 100% voting rights. The CoC approved a Resolution Plan submitted by M/s. Aarishi Medkare Private Limited for Rs.43.20 Crores towards acquisition of Admiron Life Sciences and its assets, and Rs.7.50 Crores towards purchase of collateral
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The Adjudicating…
A moratorium was…
The case involves the Corporate Insolvency Resolution Process (CIRP) initiated against Admiron Life Sciences Private Limited. The Resolution Professional (RP) filed an application seeking approval of the Resolution Plan approved by the Committee of Creditors (CoC). The CIRP was initiated under Section 10 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the petition and imposed a moratorium. An Interim Resolution Professional (IRP) was appointed, who was later replaced by Mr. Madhusudhan Rao as the Resolution Professional. The CoC approved a resolution plan submitted by M/s. Aarishi Medkare Private Limited.
Admiron Life Sciences Private Limited initiated Corporate Insolvency Resolution Process (CIRP) by filing a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the petition on 28.07.2017 and imposed a moratorium on 09.08.2017. Mr. Venkateswarlu Bharathula was appointed as the Interim Resolution Professional (IRP). The IRP was later replaced by Mr. Madhusudhan Rao as the Resolution Professional (RP). The Committee of Creditors (CoC) consisted of SBI as the sole financial creditor with 100% voting rights. The CoC approved a Resolution Plan submitted by M/s. Aarishi Medkare Private Limited for Rs.43.20 Crores towards acquisition of Admiron Life Sciences and its assets, and Rs.7.50 Crores towards purchase of collateral
…The Adjudicating…
A moratorium was…