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 plan submitted by Ms. Basu Chicks and Feed Pvt Ltd was approved by the Committee of Creditors (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, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Feedatives Pharma Private Limited. Sanjay Kumar Agarwal was appointed as the Resolution Professional (RP). The RP filed an application for approval of the resolution plan submitted by Ms. Basu Chicks and Feed Pvt Ltd, which was approved by the Committee of Creditors (CoC) with 100% voting share. Shri Krishna Agri Projects Private Limited objected to the resolution plan due to the rejection of their claim. Mr. Anirban Chatterjee, a promoter director, also objected, claiming a lack of opportunity to participate in the resolution process after the rejection of his resolution plan submitted in consortium with Basu Chicks and Feed Pvt. Ltd.
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Corporate Insolvency Resolution Process (CIRP)…
CoC meeting held where the resolution plan…
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 plan submitted by Ms. Basu Chicks and Feed Pvt Ltd was approved by the Committee of Creditors (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, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Feedatives Pharma Private Limited. Sanjay Kumar Agarwal was appointed as the Resolution Professional (RP). The RP filed an application for approval of the resolution plan submitted by Ms. Basu Chicks and Feed Pvt Ltd, which was approved by the Committee of Creditors (CoC) with 100% voting share. Shri Krishna Agri Projects Private Limited objected to the resolution plan due to the rejection of their claim. Mr. Anirban Chatterjee, a promoter director, also objected, claiming a lack of opportunity to participate in the resolution process after the rejection of his resolution plan submitted in consortium with Basu Chicks and Feed Pvt. Ltd.
…Corporate Insolvency Resolution Process (CIRP)…
CoC meeting held where the resolution plan…