The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Educomp Infrastructure & School Management Limited. The insolvency petition was filed by the corporate debtor itself under Section 10 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated following an order dated 25.04.2018. An Interim Resolution Professional (IRP) was appointed, followed by the constitution of a Committee of Creditors (CoC). The IRP was later replaced by Mr. Ashwini Mehra as the Resolution Professional (RP). The RP sought approval for a resolution plan submitted by Mr. Parmjit Gandhi, which was approved by 100% of the CoC.
Educomp Infrastructure & School Management Limited faced insolvency, leading to the initiation of CIRP under Section 10 of the IBC. The CIRP commenced on 25.04.2018. Mr. Manoj Maheshwari was initially appointed as the Interim Resolution Professional (IRP), but was later replaced by Mr. Ashwini Mehra. Public announcements were made, inviting claims from creditors. The IRP received claims amounting to Rs. 11,98,26,06,870 from 8 Financial Creditors and Rs. 6,93,99,975 from 27 Operational Creditors. The Committee of Creditors (CoC) was formed, and several meetings were held. The CoC extended the CIRP period to facilitate the submission of resolution plans. Initially, 21 potential resolution applicants expressed interest, but only three submitted plans, including one
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CIRP initiated against…
Mr. Manoj Maheshwari…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Educomp Infrastructure & School Management Limited. The insolvency petition was filed by the corporate debtor itself under Section 10 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated following an order dated 25.04.2018. An Interim Resolution Professional (IRP) was appointed, followed by the constitution of a Committee of Creditors (CoC). The IRP was later replaced by Mr. Ashwini Mehra as the Resolution Professional (RP). The RP sought approval for a resolution plan submitted by Mr. Parmjit Gandhi, which was approved by 100% of the CoC.
Educomp Infrastructure & School Management Limited faced insolvency, leading to the initiation of CIRP under Section 10 of the IBC. The CIRP commenced on 25.04.2018. Mr. Manoj Maheshwari was initially appointed as the Interim Resolution Professional (IRP), but was later replaced by Mr. Ashwini Mehra. Public announcements were made, inviting claims from creditors. The IRP received claims amounting to Rs. 11,98,26,06,870 from 8 Financial Creditors and Rs. 6,93,99,975 from 27 Operational Creditors. The Committee of Creditors (CoC) was formed, and several meetings were held. The CoC extended the CIRP period to facilitate the submission of resolution plans. Initially, 21 potential resolution applicants expressed interest, but only three submitted plans, including one
…CIRP initiated against…
Mr. Manoj Maheshwari…