The case pertains to an application filed under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, for approval of a resolution plan submitted by the Successful Resolution Applicant (SRA), Ms. Ritika Bhandari, which was approved in the 4th CoC meeting.
The Corporate Debtor, Valueworth Capital Management Private Limited, was admitted into CIRP on 22.11.2022.
Mr. Gurdev Bassi was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.
The CoC consisted of only one Operational Creditor, Rajeev Sood & Co., holding 100% voting share.
Ms. Ritika Bhandari was the sole eligible Prospective Resolution Applicant.
The CoC approved the Resolution Plan submitted by Ms. Ritika Bhandari with 100% voting share in its 4th meeting held on 19.04.2023.
The Fair Value of the Corporate Debtor was Rs.1,28,618.46 and the Liquidation Value was Rs.40,447.955.
The Resolution Plan provides for a payment of ₹65,000/- to the Operational Creditor, Rajeev Sood & Co., which is 22% of the admitted claim.
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The Corporate Debtor…
Interim Resolution…
The case pertains to an application filed under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, for approval of a resolution plan submitted by the Successful Resolution Applicant (SRA), Ms. Ritika Bhandari, which was approved in the 4th CoC meeting.
The Corporate Debtor, Valueworth Capital Management Private Limited, was admitted into CIRP on 22.11.2022.
Mr. Gurdev Bassi was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.
The CoC consisted of only one Operational Creditor, Rajeev Sood & Co., holding 100% voting share.
Ms. Ritika Bhandari was the sole eligible Prospective Resolution Applicant.
The CoC approved the Resolution Plan submitted by Ms. Ritika Bhandari with 100% voting share in its 4th meeting held on 19.04.2023.
The Fair Value of the Corporate Debtor was Rs.1,28,618.46 and the Liquidation Value was Rs.40,447.955.
The Resolution Plan provides for a payment of ₹65,000/- to the Operational Creditor, Rajeev Sood & Co., which is 22% of the admitted claim.
…The Corporate Debtor…
Interim Resolution…