The case involves a petition filed by Vesuvius India Ltd, an Operational Creditor, for initiating the Corporate Insolvency Resolution Process (CIRP) against Fenace Auto Ltd, the Corporate Debtor. The petition was admitted on November 15, 2017. Mr. Punkaj Jain was appointed as the Interim Resolution Professional (IRP). A public announcement was made on December 16, 2017. The RP received claims from secured and operational creditors, and employees. The IRP was confirmed as the RP, and he filed a comprehensive report culminating in a Resolution Plan for the Corporate Debtor.
Vesuvius India Ltd., an Operational Creditor, filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Fenace Auto Ltd., the Corporate Debtor. The petition was admitted on 2017-11-15. Mr. Punkaj Jain was appointed as the Interim Resolution Professional (IRP). Public announcement was made on 2017-12-16. The RP received claims of Rs. 4,83,41,22,402/- from secured creditors and Rs. 21,75,90,230/- from Operational Creditors. A further claim of Rs. 49,79,217.13 was received from employees. The IRP was confirmed as RP. The RP filed a comprehensive report culminating in a Resolution Plan. The Resolution Professional admitted a Claim of Rs. 21,75,90,230/- to the Operational Creditors. The Resolution Applicant proposed a pay-out of Rs. 3,01,13,851/-
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The petition filed by…
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The case involves a petition filed by Vesuvius India Ltd, an Operational Creditor, for initiating the Corporate Insolvency Resolution Process (CIRP) against Fenace Auto Ltd, the Corporate Debtor. The petition was admitted on November 15, 2017. Mr. Punkaj Jain was appointed as the Interim Resolution Professional (IRP). A public announcement was made on December 16, 2017. The RP received claims from secured and operational creditors, and employees. The IRP was confirmed as the RP, and he filed a comprehensive report culminating in a Resolution Plan for the Corporate Debtor.
Vesuvius India Ltd., an Operational Creditor, filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Fenace Auto Ltd., the Corporate Debtor. The petition was admitted on 2017-11-15. Mr. Punkaj Jain was appointed as the Interim Resolution Professional (IRP). Public announcement was made on 2017-12-16. The RP received claims of Rs. 4,83,41,22,402/- from secured creditors and Rs. 21,75,90,230/- from Operational Creditors. A further claim of Rs. 49,79,217.13 was received from employees. The IRP was confirmed as RP. The RP filed a comprehensive report culminating in a Resolution Plan. The Resolution Professional admitted a Claim of Rs. 21,75,90,230/- to the Operational Creditors. The Resolution Applicant proposed a pay-out of Rs. 3,01,13,851/-
…The petition filed by…
Public announ…