The case involves an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (I&B Code) by Mr. Mohan Lal Jain, the Resolution Professional (RP) of the Corporate Debtor, M/s. KSS Petron Private Limited, seeking an order for the liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application under Section 10 of the I&B Code filed by the Operational Creditor, M/s Ravi Infrastructure & Projects, which was admitted on 01.08.2017. The RP invited Expressions of Interest (EOI), and two resolution plans were received. However, the Committee of Creditors (CoC) rejected both plans, finding one non-compliant and the other commercially unviable. Consequently, the CoC unanimously voted for
…The Corporate Insolvency Resolution Process (CIRP) was initiated against KSS Petron Private Limited following an application by the Operational Creditor, M/s Ravi Infrastructure & Projects, under Section 10 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 01.08.2017. Mr. Vineet K. Chaudhary was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Mr. Mohan Lal Jain as the Resolution Professional (RP). The RP invited Expressions of Interest (EOI) and received two resolution plans from Royale Partners Investment Funds Limited (RPIFL) and M/s BSL Engineering Services DMCC, Dubai. The plan submitted by M/s BSL Engineering Services DMCC was rejected for non-compliance. The plan submitted by RPIFL was modified
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Application under Section 10 of the Insolvency…
The erstwhile IRP invited for Expression of…
The case involves an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (I&B Code) by Mr. Mohan Lal Jain, the Resolution Professional (RP) of the Corporate Debtor, M/s. KSS Petron Private Limited, seeking an order for the liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application under Section 10 of the I&B Code filed by the Operational Creditor, M/s Ravi Infrastructure & Projects, which was admitted on 01.08.2017. The RP invited Expressions of Interest (EOI), and two resolution plans were received. However, the Committee of Creditors (CoC) rejected both plans, finding one non-compliant and the other commercially unviable. Consequently, the CoC unanimously voted for
…The Corporate Insolvency Resolution Process (CIRP) was initiated against KSS Petron Private Limited following an application by the Operational Creditor, M/s Ravi Infrastructure & Projects, under Section 10 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 01.08.2017. Mr. Vineet K. Chaudhary was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Mr. Mohan Lal Jain as the Resolution Professional (RP). The RP invited Expressions of Interest (EOI) and received two resolution plans from Royale Partners Investment Funds Limited (RPIFL) and M/s BSL Engineering Services DMCC, Dubai. The plan submitted by M/s BSL Engineering Services DMCC was rejected for non-compliance. The plan submitted by RPIFL was modified
…Application under Section 10 of the Insolvency…
The erstwhile IRP invited for Expression of…