The case pertains to an application under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, for approval of a resolution plan for Ashtavinayak Auto Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 06.11.2018. Mr. Navin Srichand Kanjwani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Rajat Mukherjee. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, and prospective resolution applicants were invited. Leadadroit Services Pvt. Ltd. submitted a resolution plan which was revised after negotiations. The CoC approved the resolution plan with a voting share of 94.84%.
The Corporate Insolvency Resolution Process (CIRP) for Ashtavinayak Auto Pvt. Ltd. was initiated on 06.11.2018. Navin Srichand Kanjwani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Rajat Mukherjee. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of Janakalyan Sahakari Bank Limited, ASREC India Limited, and Beli Sharma & Company. Leadadroit Services Pvt. Ltd. submitted a resolution plan, which was revised after negotiations with the RP. The CoC approved the resolution plan with a voting share of 94.84% on 26.07.2019. The resolution plan includes provisions for payment of CIRP costs, financial creditors (Rs. 8.60 Lacs), and operational creditors (Rs. 4
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Corporate Insolvency Resolution Process (CIRP)…
IRP published a public announcement inviting…
The case pertains to an application under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, for approval of a resolution plan for Ashtavinayak Auto Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 06.11.2018. Mr. Navin Srichand Kanjwani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Rajat Mukherjee. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, and prospective resolution applicants were invited. Leadadroit Services Pvt. Ltd. submitted a resolution plan which was revised after negotiations. The CoC approved the resolution plan with a voting share of 94.84%.
The Corporate Insolvency Resolution Process (CIRP) for Ashtavinayak Auto Pvt. Ltd. was initiated on 06.11.2018. Navin Srichand Kanjwani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Rajat Mukherjee. Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of Janakalyan Sahakari Bank Limited, ASREC India Limited, and Beli Sharma & Company. Leadadroit Services Pvt. Ltd. submitted a resolution plan, which was revised after negotiations with the RP. The CoC approved the resolution plan with a voting share of 94.84% on 26.07.2019. The resolution plan includes provisions for payment of CIRP costs, financial creditors (Rs. 8.60 Lacs), and operational creditors (Rs. 4
…Corporate Insolvency Resolution Process (CIRP)…
IRP published a public announcement inviting…