The case involves an application filed by a Financial Creditor under section 22(3)(b) of the Insolvency & Bankruptcy Code, 2016, seeking approval for the appointment of a Resolution Professional. An Operational Creditor, Ayeka International, had previously filed an application under section 9 of the IBC against the Corporate Debtor, Kopalle Pharma Chemicals Private Limited. The Tribunal had initially appointed Shri. Ranga Rao Doradla as the Interim Resolution Professional (IRP).
Andhra Pradesh State Financial Corporation, Ranga Reddy (West) Branch, filed an application as a Financial Creditor against Kopalle Pharma Chemicals Pvt Ltd, the Corporate Debtor. Ayeka International, an Operational Creditor, had also filed an application against the Corporate Debtor. Initially, Shri. Ranga Rao Doradla was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) convened its first meeting on 06.06.2018 and resolved to replace the IRP. The CoC decided to replace the IRP with Mr. K.M.K.Prasad, with 95.96% of the votes in favor. Federal Bank Limited, another Financial Creditor, stated it had no objection to the application filed by the Petitioner/Financial Creditor. The relevance of these facts is that they establish the
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Shri. Ranga Rao Doradla was appointed as the…
The first meeting of the Committee of…
The case involves an application filed by a Financial Creditor under section 22(3)(b) of the Insolvency & Bankruptcy Code, 2016, seeking approval for the appointment of a Resolution Professional. An Operational Creditor, Ayeka International, had previously filed an application under section 9 of the IBC against the Corporate Debtor, Kopalle Pharma Chemicals Private Limited. The Tribunal had initially appointed Shri. Ranga Rao Doradla as the Interim Resolution Professional (IRP).
Andhra Pradesh State Financial Corporation, Ranga Reddy (West) Branch, filed an application as a Financial Creditor against Kopalle Pharma Chemicals Pvt Ltd, the Corporate Debtor. Ayeka International, an Operational Creditor, had also filed an application against the Corporate Debtor. Initially, Shri. Ranga Rao Doradla was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) convened its first meeting on 06.06.2018 and resolved to replace the IRP. The CoC decided to replace the IRP with Mr. K.M.K.Prasad, with 95.96% of the votes in favor. Federal Bank Limited, another Financial Creditor, stated it had no objection to the application filed by the Petitioner/Financial Creditor. The relevance of these facts is that they establish the
…Shri. Ranga Rao Doradla was appointed as the…
The first meeting of the Committee of…