The case pertains to IA No. 171/2020 filed in CP (IB) No.264/7/HDB/2018 under Section 30(6) and Section 31 of the IB Code, 2016, along with Regulation 39 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application was filed by the Resolution Professional seeking approval of the resolution plan for Jalpower Corporation Limited. The Corporate Debtor was admitted into CIRP on 09.04.2019, and Mr. Sanjay Kumar Deewani was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Amit Jain was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) approved the resolution plan submitted by National Hydro Power Corporation (NHPC). The resolution plan proposed a resolution amount of Rs. 165.00
…The Corporate Debtor, Jalpower Corporation Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 09.04.2019. Mr. Sanjay Kumar Deewani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Amit Jain as the Resolution Professional (RP). The Committee of Creditors (CoC), comprising PFCL and Punjab National Bank, considered two resolution plans, one from Sterlite Power Transmission Limited and another from National Hydro Power Corporation (NHPC). The CoC found NHPC's plan feasible and viable, approving it with a 100% voting share. The NHPC's resolution plan proposed a resolution amount of Rs. 165.00 crores. The liquidation value of the Corporate Debtor was assessed at Rs. 51.41 crores, and the fair value at Rs.
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The case pertains to IA No. 171/2020 filed in CP (IB) No.264/7/HDB/2018 under Section 30(6) and Section 31 of the IB Code, 2016, along with Regulation 39 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application was filed by the Resolution Professional seeking approval of the resolution plan for Jalpower Corporation Limited. The Corporate Debtor was admitted into CIRP on 09.04.2019, and Mr. Sanjay Kumar Deewani was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Amit Jain was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) approved the resolution plan submitted by National Hydro Power Corporation (NHPC). The resolution plan proposed a resolution amount of Rs. 165.00
…The Corporate Debtor, Jalpower Corporation Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 09.04.2019. Mr. Sanjay Kumar Deewani was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Amit Jain as the Resolution Professional (RP). The Committee of Creditors (CoC), comprising PFCL and Punjab National Bank, considered two resolution plans, one from Sterlite Power Transmission Limited and another from National Hydro Power Corporation (NHPC). The CoC found NHPC's plan feasible and viable, approving it with a 100% voting share. The NHPC's resolution plan proposed a resolution amount of Rs. 165.00 crores. The liquidation value of the Corporate Debtor was assessed at Rs. 51.41 crores, and the fair value at Rs.
…Corporate D…
1st COC m…