The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Banyantree Developers Pvt. Ltd. The CIRP was initiated following an application by a Financial Creditor, leading to the appointment of Mr. Anil Tayal as the Interim Resolution Professional. Subsequently, a Committee of Creditors (CoC) was formed, and the applicant, Amit Arya, was appointed as the Resolution Professional (RP). The RP published an Expression of Interest, receiving two EOIs, but only one Resolution Plan from R.M. Alloys Private Limited was received. The CIRP period was extended by 90 days by the Adjudicating Authority. The Resolution Plan submitted by R.M. Alloys Private Limited was approved by the CoC with 100% voting shares.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Banyantree Developers Pvt. Ltd. based on an application by a Financial Creditor. Anil Tayal was appointed as the Interim Resolution Professional, followed by the formation of a Committee of Creditors (CoC). Amit Arya was then appointed as the Resolution Professional (RP). An Expression of Interest was published, and R.M. Alloys Private Limited submitted a Resolution Plan. The CIRP period was extended by 90 days. The CoC approved the Resolution Plan with 100% voting shares. The Resolution Applicant submitted a performance bank guarantee of Rs. 5,00,000. The repayment plan totaled Rs. 100 lacs, with allocations for CIRP costs, operational creditors, and financial creditors. The liquidation value of
…Sign in to view the parties.
Order passed by the Adjudicating Authority…
The CoC appointed the Applicant as Resolution…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Banyantree Developers Pvt. Ltd. The CIRP was initiated following an application by a Financial Creditor, leading to the appointment of Mr. Anil Tayal as the Interim Resolution Professional. Subsequently, a Committee of Creditors (CoC) was formed, and the applicant, Amit Arya, was appointed as the Resolution Professional (RP). The RP published an Expression of Interest, receiving two EOIs, but only one Resolution Plan from R.M. Alloys Private Limited was received. The CIRP period was extended by 90 days by the Adjudicating Authority. The Resolution Plan submitted by R.M. Alloys Private Limited was approved by the CoC with 100% voting shares.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Banyantree Developers Pvt. Ltd. based on an application by a Financial Creditor. Anil Tayal was appointed as the Interim Resolution Professional, followed by the formation of a Committee of Creditors (CoC). Amit Arya was then appointed as the Resolution Professional (RP). An Expression of Interest was published, and R.M. Alloys Private Limited submitted a Resolution Plan. The CIRP period was extended by 90 days. The CoC approved the Resolution Plan with 100% voting shares. The Resolution Applicant submitted a performance bank guarantee of Rs. 5,00,000. The repayment plan totaled Rs. 100 lacs, with allocations for CIRP costs, operational creditors, and financial creditors. The liquidation value of
…Order passed by the Adjudicating Authority…
The CoC appointed the Applicant as Resolution…