The case originated from an application filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. SREI Infrastructure Finance Limited (Financial Creditor) against M/s. Gujarat Hydrocarbons and Power SEZ Limited (Corporate Debtor). This application was admitted by the Adjudicating Authority, Bench III, on November 18, 2020, leading to the declaration of a moratorium and the appointment of Mr. Rakesh Kumar Agarwal as the Interim Resolution Professional. Subsequently, a Resolution Plan, which included a revised/final version dated April 5, 2021, and August 23, 2021, was submitted by the Successful Resolution Applicant, M/s. Zaveri & Co. Pvt. Ltd. This plan received 100% voting share approval from the Committee of Creditors (CoC) in its 11th meeting on August 30, 2021, under Section 30(4) of the IBC, after a thorough assessment of its feasibility and viability for the Corporate Debtor's Corporate Insolvency Resolution Process (CIRP).

The case originated from an application filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. SREI Infrastructure Finance Limited (Financial Creditor) against M/s. Gujarat Hydrocarbons and Power SEZ Limited (Corporate Debtor). This application was admitted by the Adjudicating Authority, Bench III, on November 18, 2020, leading to the declaration of a moratorium and the appointment of Mr. Rakesh Kumar Agarwal as the Interim Resolution Professional. Subsequently, a Resolution Plan, which included a revised/final version dated April 5, 2021, and August 23, 2021, was submitted by the Successful Resolution Applicant, M/s. Zaveri & Co. Pvt. Ltd. This plan received 100% voting share approval from the Committee of Creditors (CoC) in its 11th meeting on August 30, 2021, under Section 30(4) of the IBC, after a thorough assessment of its feasibility and viability for the Corporate Debtor's Corporate Insolvency Resolution Process (CIRP).