The case involves an application under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016 for the approval of a Resolution Plan for Linus Agroventures Private Limited. Indian Overseas Bank, the Financial Creditor, filed a Company Petition against Linus Agroventures, the Corporate Debtor, under Section 7 of the IBC, which was admitted on 2020-02-19. The Resolution Professional (RP) was appointed, and a Committee of Creditors (CoC) was constituted with Indian Overseas Bank as the sole secured Financial Creditor. The RP invited Expressions of Interest (EoI) multiple times, and ultimately, a Resolution Plan submitted by Biswas Infracon LLP was approved by the CoC with 100% voting share.
Indian Overseas Bank initiated CIRP against Linus Agroventures Private Limited under Section 7 of IBC. The application was admitted on 2020-02-19. Anup Kumar Singh was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) consisted solely of Indian Overseas Bank. The RP issued multiple invitations for Expressions of Interest (EoI), receiving limited responses. Biswas Infracon LLP submitted a Resolution Plan, which was approved by the CoC with 100% voting share on 2021-01-15. The Resolution Plan included provisions for payment of CIRP costs, repayment of debts to Operational Creditors, and management of the Corporate Debtor. The Resolution Applicant sought various reliefs and concessions for successful implementation of the plan, including
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Underlying Company Petition in C.P. (IB) No.…
The Company Petition was admitted vide…
The case involves an application under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016 for the approval of a Resolution Plan for Linus Agroventures Private Limited. Indian Overseas Bank, the Financial Creditor, filed a Company Petition against Linus Agroventures, the Corporate Debtor, under Section 7 of the IBC, which was admitted on 2020-02-19. The Resolution Professional (RP) was appointed, and a Committee of Creditors (CoC) was constituted with Indian Overseas Bank as the sole secured Financial Creditor. The RP invited Expressions of Interest (EoI) multiple times, and ultimately, a Resolution Plan submitted by Biswas Infracon LLP was approved by the CoC with 100% voting share.
Indian Overseas Bank initiated CIRP against Linus Agroventures Private Limited under Section 7 of IBC. The application was admitted on 2020-02-19. Anup Kumar Singh was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) consisted solely of Indian Overseas Bank. The RP issued multiple invitations for Expressions of Interest (EoI), receiving limited responses. Biswas Infracon LLP submitted a Resolution Plan, which was approved by the CoC with 100% voting share on 2021-01-15. The Resolution Plan included provisions for payment of CIRP costs, repayment of debts to Operational Creditors, and management of the Corporate Debtor. The Resolution Applicant sought various reliefs and concessions for successful implementation of the plan, including
…Underlying Company Petition in C.P. (IB) No.…
The Company Petition was admitted vide…