Alchemist Asset Reconstruction Company Limited, the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Associated Lighting System Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 21.10.2020. Mr. Devendra Singh was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP constituted a Committee of Creditors (CoC) with Alchemist Asset Reconstruction Company Limited as the sole financial creditor holding 100% voting rights. The RP received Expressions of Interest (EOIs) from three applicants, and after scrutiny, shortlisted Arjun Nath and Atmbhu Buildwell Private Limited as Prospective
…Alchemist Asset Reconstruction Company Limited initiated CIRP against Associated Lighting System Private Limited under Section 7 of IBC, 2016. The application was admitted on 21.10.2020. Devendra Singh was appointed as IRP and later confirmed as RP. The CoC comprised only Alchemist Asset Reconstruction Company Limited, holding 100% voting rights. The RP published Form-G, inviting resolution plans. Arjun Nath submitted a resolution plan, accompanied by an earnest money deposit of Rs. 10,00,000. The RP vetted the plan to ensure compliance with the Code and Regulations. The CoC approved the resolution plan with 100% votes on 12.07.2021. Arjun Nath provided a Performance Bank Guarantee of Rs. 50,00,000. The resolution plan proposed payments to various stakeholders,
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Alchemist Asset Reconstruction Company Limited…
The application filed by Alchemist Asset…
Alchemist Asset Reconstruction Company Limited, the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Associated Lighting System Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 21.10.2020. Mr. Devendra Singh was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP constituted a Committee of Creditors (CoC) with Alchemist Asset Reconstruction Company Limited as the sole financial creditor holding 100% voting rights. The RP received Expressions of Interest (EOIs) from three applicants, and after scrutiny, shortlisted Arjun Nath and Atmbhu Buildwell Private Limited as Prospective
…Alchemist Asset Reconstruction Company Limited initiated CIRP against Associated Lighting System Private Limited under Section 7 of IBC, 2016. The application was admitted on 21.10.2020. Devendra Singh was appointed as IRP and later confirmed as RP. The CoC comprised only Alchemist Asset Reconstruction Company Limited, holding 100% voting rights. The RP published Form-G, inviting resolution plans. Arjun Nath submitted a resolution plan, accompanied by an earnest money deposit of Rs. 10,00,000. The RP vetted the plan to ensure compliance with the Code and Regulations. The CoC approved the resolution plan with 100% votes on 12.07.2021. Arjun Nath provided a Performance Bank Guarantee of Rs. 50,00,000. The resolution plan proposed payments to various stakeholders,
…Alchemist Asset Reconstruction Company Limited…
The application filed by Alchemist Asset…