The case involves an application under Section 30(6) read with Section 31 of the Insolvency & Bankruptcy Code, 2016, along with Regulation 39(4) of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Shri Krishna Agri Projects Private Limited, an operational creditor, initiated the CIRP process against Feedatives Pharma Private Limited, the corporate debtor. The resolution professional, Sanjay Kumar Agarwal, filed an application for approval of the resolution plan submitted by Ms. Basu Chicks and Feed Pvt Ltd, which was approved by the CoC with 100% voting share. Objections were raised by Shri Krishna Agri Projects Private Limited and Mr. Anirban Chatterjee, a promoter director.
Shri Krishna Agri Projects Private Limited initiated CIRP against Feedatives Pharma Private Limited. Sanjay Kumar Agarwal was appointed as the Resolution Professional. Ms. Basu Chicks and Feed Pvt Ltd submitted a resolution plan, which was approved by the Committee of Creditors (CoC) with 100% voting. Shri Krishna Agri Projects Private Limited, an operational creditor, objected to the resolution plan, citing rejection of their claim. Anirban Chatterjee, a promoter director, also objected, claiming lack of opportunity to participate in the resolution process. The CoC approved the resolution plan in a meeting held on 02.07.2019. The corporate debtor is an MSME registered company doing business in poultry. The liquidation value was Rs. 5.90 Crores, and the fair market
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Corporate Insolvency Resolution Process (CIRP)…
Committee of Creditors…
The case involves an application under Section 30(6) read with Section 31 of the Insolvency & Bankruptcy Code, 2016, along with Regulation 39(4) of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Shri Krishna Agri Projects Private Limited, an operational creditor, initiated the CIRP process against Feedatives Pharma Private Limited, the corporate debtor. The resolution professional, Sanjay Kumar Agarwal, filed an application for approval of the resolution plan submitted by Ms. Basu Chicks and Feed Pvt Ltd, which was approved by the CoC with 100% voting share. Objections were raised by Shri Krishna Agri Projects Private Limited and Mr. Anirban Chatterjee, a promoter director.
Shri Krishna Agri Projects Private Limited initiated CIRP against Feedatives Pharma Private Limited. Sanjay Kumar Agarwal was appointed as the Resolution Professional. Ms. Basu Chicks and Feed Pvt Ltd submitted a resolution plan, which was approved by the Committee of Creditors (CoC) with 100% voting. Shri Krishna Agri Projects Private Limited, an operational creditor, objected to the resolution plan, citing rejection of their claim. Anirban Chatterjee, a promoter director, also objected, claiming lack of opportunity to participate in the resolution process. The CoC approved the resolution plan in a meeting held on 02.07.2019. The corporate debtor is an MSME registered company doing business in poultry. The liquidation value was Rs. 5.90 Crores, and the fair market
…Corporate Insolvency Resolution Process (CIRP)…
Committee of Creditors…