The case involves an application filed by the Resolution Professional under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a Resolution Plan. The Company Petition under Section 7 of the IBC was admitted on May 29, 2017, and an Interim Resolution Professional was appointed. The Committee of Creditors (CoC) was constituted on December 4, 2017, comprising various financial institutions. Two valuers assessed the assets of the company, providing liquidation values. The Resolution Professional satisfied that the Resolution Plan complied with Section 30(2) of the I&B Code, 2016, and the CoC approved it with 97% voting on March 5, 2018.
The Resolution Professional filed an application under Section 30(6) of the IBC, seeking approval of a Resolution Plan. The Company Petition under Section 7 of the IBC was admitted on May 29, 2017. The Interim Resolution Professional took over the management of the company, and their candidature was later confirmed. The Committee of Creditors was constituted on December 4, 2017, comprising JM Financial Asset Reconstruction Company Pvt. Ltd., Indus Capital Pvt. Ltd., Indus Finance Ltd., and others. Two valuers provided liquidation values for the debtor company's assets. The Resolution Professional averaged these values. The Resolution Plan was approved by the CoC with 97% voting on March 5, 2018. The Resolution Plan included provisions for the Resolution Professional's
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The Company Petition under Section 7 of the…
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The case involves an application filed by the Resolution Professional under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a Resolution Plan. The Company Petition under Section 7 of the IBC was admitted on May 29, 2017, and an Interim Resolution Professional was appointed. The Committee of Creditors (CoC) was constituted on December 4, 2017, comprising various financial institutions. Two valuers assessed the assets of the company, providing liquidation values. The Resolution Professional satisfied that the Resolution Plan complied with Section 30(2) of the I&B Code, 2016, and the CoC approved it with 97% voting on March 5, 2018.
The Resolution Professional filed an application under Section 30(6) of the IBC, seeking approval of a Resolution Plan. The Company Petition under Section 7 of the IBC was admitted on May 29, 2017. The Interim Resolution Professional took over the management of the company, and their candidature was later confirmed. The Committee of Creditors was constituted on December 4, 2017, comprising JM Financial Asset Reconstruction Company Pvt. Ltd., Indus Capital Pvt. Ltd., Indus Finance Ltd., and others. Two valuers provided liquidation values for the debtor company's assets. The Resolution Professional averaged these values. The Resolution Plan was approved by the CoC with 97% voting on March 5, 2018. The Resolution Plan included provisions for the Resolution Professional's
…The Company Petition under Section 7 of the…
The applicant's…
Sign in to view related legal provisions.